SINGAPORE : Chinese media giant CMC Holdings has emerged as a strategic investor in Star Media Group's Cityneon Holdings Ltd after subscribing to part the company's private placement exercise comprising 40 million shares in a transaction valued at S$22mil (RM65mil).
Cityneon Holdings, owned by the Star Media Group and listed on the Main Board of the Singapore Exchange, had on Wednesday announced to the Singapore Exchange that it has placed out 40 million shares, comprising 20 million new shares and 20 million vendor shares, at 55 Singapore cents per share.
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