10:53:53 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Spackman Equities Group Inc
Symbol SQG
Shares Issued 148,900,183
Close 2014-07-21 C$ 0.155
Market Cap C$ 23,079,528
Recent Sedar Documents

Spackman Entertainment begins trading on Singapore board

2014-07-22 10:13 ET - News Release

Mr. Charles Spackman reports

SPACKMAN EQUITIES GROUP ENTERTAINMENT SUBSIDIARY CELEBRATES IPO AND FIRST DAY OF TRADING IN SINGAPORE

Spackman Equities Group Inc.'s entertainment subsidiary, Spackman Entertainment Group Ltd. (SEGL), opened for trading on Tuesday, July 22, 2014, on the Catalist board of the Singapore Exchange Securities Trading Ltd. (SGX-ST) under the ticker symbol SGX:40E.

SEGI chairman and chief executive officer Charles Spackman, who is also the executive chairman of SEGL, joined by SEGL's management team, CEO Tae Hun Lee and chief producer Eugene Lee, in celebrating the company's first day of trading by visiting SGX-ST's trading floor for the stock opening day ceremony.

Commenting on the initial public offering (IPO), Mr. Spackman said: "I am very encouraged at the strong support and interest in our IPO. We believe this is a testament to the reputation and successful commercial track record associated with our two wholly owned film production subsidiaries, Zip Cinema and Opus Pictures. As the first Korean film production group to list in Singapore, the listing will offer investors in Singapore and in the region a unique opportunity to invest directly in the growth of the Korean film and entertainment industries."

SEGL offered 69.44 million shares at the IPO, comprising 50 million new shares and 19.44 million vendor shares, at 26 Singaporean cents (22 cents) per share. At the close of the first day of trading, SEGL ended 78.9 per cent above the offer price to 46.5 Singaporean cents per share with a total market capitalization of $183.8-million (Singaporean) ($159.1-million).

SEGI owns 154.62 million shares of SEGL, which will represent 39.1 per cent of the total outstanding shares postlisting.

SEGL intends to utilize the net proceeds of approximately $10.8-million (Singaporean) ($9.3-million) from the placement to invest into films produced by SEGL or third parties; to expand the company's operations through acquisitions, joint ventures and investments; to establish overseas offices; and for general working capital purposes.

We seek Safe Harbor.

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