• Facebook Social Icon
  • YouTube Social  Icon
  • Instagram Social Icon
  • Twitter Social Icon

Copyright © 2019 mm2 Asia Ltd. All Rights Reserved.

Please note that our company welcomes all enquiries. However please do not send us any proposals, stories, scripts or any materials to us unsolicited. The Company shall not be held responsible for any unsolicited materials sent to us and we cannot be responsible in any way for safe guarding the confidentiality of such materials. All unsolicited proposals, stories, scripts or any similar materials shall be deemed to be sent at the sender's risk. Read more here.

Vividthree Lands R3 Asian Gems as Pre-IPO Investor

May 9, 2018

 

1. Pre-IPO Investor R3 Asian Gems invests for Vividthree’s potential business model to popularise VR content and tour shows in rapidly growing Asian cities;

 

2. R3  will  subscribe  for  new  ordinary  shares  in  Vividthree  Holdings  Pte  Ltd (“Vividthree”), amounting to S$2,000,000.

SINGAPORE, 23 April 2018 – mm2 Asia Ltd. (“mm2 Asia”, “mm2 全亚影视娱乐有限公司” or collectively with its subsidiaries, the “Group”), is pleased to announce that its subsidiary, Vividthree Holdings Pte. Ltd. (“Vividthree”, the “Company”), has entered into a redeemable convertible loan agreement (the “Convertible Loan Agreement”) with a Pre-IPO investor, namely, R3 Asian Gems (“R3”).

 

Under the Convertible Loan Agreement, R3 will be subscribing for a convertible note for a term of two years, which will be mandatorily converted into ordinary shares of Vividthree upon its listing on the Singapore Exchange (SGX) Catalist Board at a discount of 15% to the IPO price of the shares based on the Company’s valuation.

 

The Executive Chairman of the Group, Mr. Melvin Ang (洪伟才) commented: "We are very excited about this offering. R3 is a respectable fund that invests in promising small-cap and mid-cap companies in Asia. To have them come on board as Vividthree gears itself for IPO is a testament to Vividthree’s long-term growth prospect. In addition, R3 has also recently acquired UnUsUaL’s shares from UnUsUaL Management Pte Ltd., further proving that the people who invest in us and the businesses in which we invest are bound by mutual interests.

 

Mr. James Koh, Managing Director of R3, said: “As a fund that focuses on identifying and supporting fast-growing companies in the region, R3 is proud to be able to join Vividthree on their journey towards creating and bringing entertaining VR experiences to urban dwellers in Asia. Given the endless possibilities of extracting value from popular IP products, such as Train to Busan, using the VR format, we believe Vividthree has a business model that fits the demographic opportunities and consumer behaviour in Asia, and a team with the right experience and expertise to execute it.

 

Mr Charles Yeo, CEO of Vividthree, said: “We are grateful for the strong interest shown by R3 in becoming a Pre-IPO investor of Vividthree. Their participation is a huge sign of confidence, and we hope to continue gaining the trust and support of the investment community as we launch our VR tour shows in the coming months.

 

- End of Press Release -

 

Note to media: Please read this press release in conjunction with the Company’s announcement released on SGXnet on the same date, which can be found here.

Please reload

Recent Posts
Please reload

Archive
Please reload

Follow Us
  • Facebook Basic Square
  • YouTube Social  Icon
  • Instagram Social Icon
  • Twitter Basic Square