The deal will be partially funded with the issuance of 25.7 million new shares at the price of 13 cents per share.
SINGAPORE (Oct 12): RHB Research is maintaining its “buy” call on Spackman Entertainment Group, while lowering its lower target price to 20 cents from 23 cents previously to factor in an expected dilution of shares.
This comes after Spackman yesterday announced its acquisition of Take Pictures, whose 100%-owned subsidiary is motion development picture production company Studio Take, for a total consideration of $3.9 million.
