Rojam Entertainment Holdings Ltd., a Hong Kong-based music production house led by Japanese producer Tetsuya Komuro, said Thursday it will be listed on Hong Kong's Growth Enterprise Market stock exchange next Thursday.
Rojam officials told a press conference the firm will have 90 million shares, or about 8.15 percent of issued share capital, in the initial public offering. The issue will include 70 million new shares and 20 million existing ones at HK$1 ($0.128) each.
The net proceeds of the placing will be about HK$50 million and will be used to strengthen and expand businesses in Asian markets including Japan, Hong Kong, South Korea, Taiwan, China and Thailand.
"Our listing in Hong Kong is an important step in enhancing the group's growth and strengthening our capabilities in the provision of innovative services to customers," said Komuro, Rojam's chairman.
Komuro cofounded Rojam in 1998. The company is involved in music production, music publishing, record distribution, artist and event management as well as trademark licensing. It also operates a music entertainment portal on its Web site.
One of Japan's top producers, Komuro has worked with such pop singers and bands as Namie Amuro, Tomomi Kahara, Globe and TRF.