mm2 Asia to raise $49 mil in private placement

SINGAPORE (June 15): mm2 Asia, the producer of movies and TV and online content, is selling 87.7 million shares at 57 cents in a private placement to raise net proceeds of $49 million.

Shares in mm2 Asia closed at 60 cents on Wednesday.

mm2 Asia says 70% of the net proceeds will be used to finance acquisitions while the remaining 30% will be used for general working capital purposes.

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