SGX welcomes virtual reality studio Vividthree to Catalist

It has a market capitalisation of $84m.

Singapore Exchange (SGX) welcomed virtual reality (VR) and visual effects studio Vividthree Holdings to the Catalist, an announcement revealed.

Specialising in immersive technology, the company develops as well as acquires intellectual property (IP) of digital assets and applies them to produce VR products including exhibitions based on VR technologies that are location-based thematic tour shows.

“We believe in the natural expansion of the digital content market and we are building a highly driven team that will provide a strong foundation for our future success,” Vividthree managing director Charles Yeo said.

With a market capitalisation of about $84m, the firm’s listing brought the total number of companies listed on Catalist to 212. The listing will also beef up SGX’s technology cluster, which will now have a total of more than 70 companies, with a combined market capitalisation of more than US$70b.

“Vividthree is in an exciting space and we look forward to supporting them as they explore new business opportunities locally and internationally,” SGX head of equity capital market Mohamed Nasser Ismail said.

The firm’s parent company is Mainboard-listed mm2 Asia. It opened at $0.225 apiece.