HK film investor to bolster capital for stakes, acquisitions
HONG KONG — Canadian-backed Korean film investor Spackman Entertainment Group is to seek a stock-market listing in Singapore.The company has appointed Singapore investment firm PrimePartners Corporate Finance as advisor in the run up to the flotation on Singapore’s Catalist sponsor-supervised board.
Spackman Entertainment is a Hong Kong-based subsidiary of Toronto-listed Spackman Equities Group. It owns two South Korean film production firms, Zip Cinema and Opus Pictures.
Zip is producer of “Cold Eyes” a hit thriller that is currently on release and has scored over 4.5 million ticket sales at the Korean box office. Opus is a minority investor in “Snowpiercer” the English-language debut film of Bong Joon-ho which opened this week and sold over 1 million tickets before the weekend.
Spackman has not disclosed how much it intends to raise, but says that the proceeds of the sale are to be invested in expanding the two Korean companies’ production and investment slates as well as allowing it to pursue further acquisitions.
Source: Variety.com
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