Dual-listed AMTD IDEA Group's (SGX:HKB) subsidiary, World Media and Entertainment Universal and Black Space Acquisition II, have entered into a business combination agreement, according to a filing with the Singapore Exchange on Monday.
Under the agreement, World Media and Entertainment Universal will be listed on a US stock exchange.
The business combination values the subsidiary at about $488 million.
The transaction is expected to be completed in mid-2025, subject to regulatory and shareholder approvals.
Following the transaction, existing shareholders of the subsidiary and that of AMTD IDEA Group and AMTD Digital are expected to hold more than 70% of the voting share of the combined company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.