Spackman Entertainment

Spackman Entertainment: Spackman will be the first Korean film entertainment company to list on the SGX. With an impressive portfolio of blockbusters, Spackman will be attractive to investors looking to profit from the regional popularity of Korean entertainment. Other than growing its film production business, Spackman will also be embarking on mergers and acquisitions to grow its pipeline of movies and participate in synergistic entertainment businesses. These plans, if successful, may potentially rerate the company beyond its IPO market capitalization of $102.8m. Voyage reckons Offer document suggests that Spackman may want to replicate its formula with the consolidation of Opus Pictures and Zip Cinema to acquire other production and entertainment businesses. In recent years, Spackman has been moving beyond film production to present and invest in other films, as well as to invest in adjacent businesses. Such partnerships may potentially be game changing. For instance, partnerships with major film distributors in overseas markets like China may substantially raise the penetration of Spackman's films outside of Korea and lead to higher revenue per film. Voyage has a TP of $0.41 for the counter.