mm2 Asia first entered into the agreement with its placement agent UOB Kay Hian on July 4, 2025. The placement round would have seen mm2 Asia issue 1.875 billion shares at 0.8 cents apiece. If successful, the placement shares would have made up 22.3% of the company’s enlarged issued and paid-up share capital.
Media entertainment and content company mm2 Asia says it has let a proposed placement of $15 million with UOB Kay Hian lapse after the terms of the placement agreement were not satisfied.
According to a filing made by mm2 Asia on April 1, the lapse and termination of the agreement is not expected to have a material adverse impact on the company’s consolidated net tangible assets per share and earnings per share for the financial year ending March 31, 2027.
