Mm2 Asia (SGX:1B0) entered into a sale and purchase agreement with Hildrics Asia Growth Fund VCC to dispose of 97,553,226 shares in Vividthree (SGX:OMK), according to a Wednesday filing with the Singapore Exchange.
The shares represent a 21.02% stake in Vividthree. As of May 28, mm2 Asia holds an about 29.89% stake in the target.
Total consideration for the proposed disposal is SG$0.01734 per share, amounting to SG$1.7 million, which will help the company improve its overall financial position.
Vividthree shares jumped nearly 17% late-morning trade Thursday.
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