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StarHub raises stake in mm2 Asia to 10% in $15 mil private placement

Michelle Zhu Published on Fri, Jun 30, 2017 / 8:20 AM GMT+8

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SINGAPORE (June 30): StarHub has agreed to subscribe to 87.7 million new shares in mm2 Asia at 57 cents each, which amounts to about $15 million in total, for strategic investment purposes.

The issue price represents a 0.6% premium to the volume-weighted average price for trades done on Wednesday.

The acquisition will raise StarHub's stake in mm2 Asia to about 10% from 8.4%.

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