Brunei prince buys into Singaporean promoter Unusual
His Royal Highness Prince Abdul Qawi, a member of Brunei’s royal family, has acquired a minority stake in Singaporean promoter Unusual for S$22.8 million (US$17.4m).
Unusual, which listed on the Singapore stock exchange last April, is a subsidiary of mm2 Asia, a major film and TV studio. Prince Qawi’s buy-in – which translates to 4.76% of the company – was at S$0.465 per share, more than double the $0.20 at which shares were priced for the stock market launch.
Prince Qawi (pictured), nephew of Bruneian sultan Hassanal Bolkiah, is eighth in line to the throne of the tiny south-east Asian nation, which is located on the north coast of Borneo. His other international investments include in Malaysian healthcare start-up BookDoc, and several properties in Melbourne, Australia.
Also investing in Unusual is billionaire business magnate Ron Sim, founder of Osim International, who has snapped up 0.63% of the company for S$3m (US$2.3m), according to the Straits Times.
” I see strong potential in providing high-quality live entertainment to the rapidly growing urban populations in Asia”
Mm2 Asia’s executive chairman, Melvin Ang, describes the new shareholders as “strategic investors”. “Unusual has charted a remarkable growth trajectory since its listing […] slightly more than a year ago, offering more and more international acts, as well as expanding regionally into Taiwan, South Korea and China,” he tells the paper.
Prince Qawi adds he sees “strong potential in providing high-quality live entertainment to the rapidly growing urban populations in Asia”.
Unusual’s upcoming shows include Mandopop star Eric Chou at Singapore Expo on 9 June, and Aussie soft-rockers Air Supply on 5 June, Irish boyband Boyzone on 21 August and worship group Hillsong United on 19 June, all at Singapore Indoor Stadium.
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