Singapore's leading home video distributor ScorpioEast has launched an IPO for a listing on the SESDAQ of the Singapore Exchangein a bid to raise approximately $2.5m (S$4.1m).

Formerly known asGolden Mandarin Video, the company is a licensee of Hong Kong's TVB, China's CCTV and Singapore's MediaCorpStudios. It has recently branched out to distribute English-language video programmes after securing a video distribution contractwith Buena Vista Home Entertainment to distribute products of Walt DisneyPictures, Touchstone Pictures and Hollywood Pictures.

CEO John Hobelieves 'alisted status will provide the necessary resources to propel the company'sgrowth'. The company recordedtotal revenues of $9.9m (S$16.2m) in 2005, up from $900,000 (S$1.5m) in 2003.

The fund raisedthrough the IPO will be used for film production as well as to expand thecompany's business in the region via joint ventures and strategic alliances. Sharesare expected to start trading on Mar 23.

The company is aninvestor in Jack Neo's latest film I Not Stupid Too, which has crossed the$2.4m (S$4.m) mark over the weekend after six weeks, making it the secondhighest grossing local film ever in Singapore's history.