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Korean film firm Spackman launches IPO at 26 cents a share

Published on Jul 11, 2014 9:28 PM

SINGAPORE - Korean film production firm Spackman Entertainment Group has launched its initial public offering (IPO) that will value the firm at around $102.8 million.

The offer is by way of placement, with 69.4 million shares at 26 cents each. No stock will be issued to the public.

Trading will start on the Catalist board on July 22.

Executive chairman Charles Spackman told The Straits Times that the firm intends to use net proceeds of about $10.8 million to increase film investment, expand its portfolio of film production brands and establish offices in Los Angeles and Singapore.

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