NoonTalk Media Ltd SEJ has partnered with homegrown production house Oak 3 Films (Oak3) for an upcoming film, with the former intending to use the proceeds from its IPO to fund the project.
As part of the agreement, NoonTalk has allocated $477,860 — which is a first tranche of the production — drawn from the net proceeds of the IPO for the project’s preparation work.
The allocation aligns with the intended utilisation of the IPO proceeds as set forth in its offer document, which is to extend its regional footprint and leadership in existing business verticals particularly in film and drama production.
NoonTalk aims to produce an engaging film that resonates with international audiences in the Asia Pacific region and reinforces its position as a leading entertainment company in the region, it says in a filing.
Television veteran Zhang Long Min who joined Noontalk as production advisor on Jan 2 will assume the role of executive producer for the project.
NoonTalk CEO Desmond Koh says he is thrilled to partner with Oak3 on its next film production. “With their proven track record for producing exceptional original content, we are confident that our collaboration will result in a remarkable film that will be a valuable addition to our portfolio,” he adds.
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The production for the upcoming film is expected to be completed in FY2024.
Shares in NoonTalk closed flat on Apr 6 at 12.2 cents.
