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 Media Ltd (SGX: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.
