Singapore-listed mm2 Asia is looking at spinning off its cinema business and listing it separately on The Catalist Board of Singapore’s SGX-ST.

The board of directors said last night that the company was “evaluating the feasibility” of the plan.

Mm2’s cinema operation business is currently conducted through its wholly owned subsidiary, mm Connect Pte Ltd. mm2 said it believed the spin-off would allow the cinema business to be financially independent and raise funds required for new growth opportunities as well as incentivise senior management to “deliver the best possible value to shareholders”.

The mm2 Group has appointed United Overseas Bank and other professional advisers to advise on the proposed spinoff and listing.