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01 Apr 2026
Cathay Cineplexes operator mm2 Asia’s 1.9-billion share lifeline dead in the water
The placement was meant to raise S$14 million for debt repayment and other uses
[SINGAPORE] A S$14 million fundraising plan by beleaguered Cathay Cineplexes operator mm2 Asia : 1B0 0% to raise monies for debt repayment through a placement of some 1.9 billion shares has fallen through, the entertainment company said on Wednesday (Apr 1).
The placement agreement, which aimed to offer shares at a minimum of S$0.008 apiece, “has lapsed and terminated and is of no further effect”, mm2 Asia said. This is because conditions under the agreement were not satisfied by the extended cut-off date of Tuesday.