Vividthree (SGX:OMK) has agreed to form a joint venture called K.Space with KStar Management to focus on automated family karaoke lounges, according to a Friday filing with Singapore Exchange.
Under the agreement, Vividthree will hold a 55% stake, subscribing to 160,500 shares, while KStar will take a 45% share with 139,500 shares in the joint venture.
The joint venture's capital will be SG$310,000, with initial operations led by Vividthree's CEO, Yeo Eng Pu, Charles. The venture aims to expand Vividthree's entertainment portfolio by leveraging KStar's expertise in karaoke.
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