Spackman Entertainment plans placement to raise $5.95 mil

SINGAPORE (March 3): Spackman Entertainment Group is proposing to sell up to 38.1 million new shares at 16.1 cents each.

The group will raise $5.95 million in net proceeds from the proposed placement after deducting expenses.

30% of the net proceeds will go towards working capital needs while 70% will be for new business investments and acquisitions.

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