Duane Morris & Selvam LLP Represents First Korean Entertainment Group to List Outside Korea

On July 22, 2014, Duane Morris & Selvam LLP represented Spackman Entertainment Group Limited in its IPO in Singapore and listing on the Catalist board of the Singapore Exchange Securities Trading Limited ("SGX"). Spackman is the first Korean entertainment company to conduct its IPO in Singapore.

The IPO comprised the allotment of 50,000,000 new shares by Spackman and the sale of 19,440,000 shares by existing shareholders. The shares were sold for S$0.26 per share and the total gross proceeds from the IPO were S$18.05 million. Following the IPO, Spackman had a market capitalisation of S$102.78 million.

Spackman, through its subsidiaries, primarily produces, presents and invests in theatrical films. Spackman's two wholly owned film production companies, Zip Cinema and Opus Pictures, are two of the most recognised film production labels in Korea and have produced some of Korea's most commercially successful theatrical films of the past seven years.

Through subsidiaries, Spackman also invests into companies and film investment funds involved in the entertainment industry that can financially and strategically complement its existing core operations.

Duane Morris & Selvam's team for the deal included Arfat Selvam (Managing Director), Jamie Benson (Director), Melissa Tan (Senior Associate) and Fatin Nadiah Masud (Associate).

PrimePartners Corporate Finance Pte. Ltd. was the issue manager, sponsor and placement agent in connection with the IPO.