Latest News

Opus new backers in the market for investment funding

Tuesday, 05 August 2014
By Patrick Howard

Hong Kong-based printing company, 1010, is negotiating with potential third parties to recapitalise the troubled Opus business following its successful novation takeover.

The publicly listed Opus, was given a ‘get out of jail’ card by 1010, which picked up its $50 million debt to the Commonwealth Bank for $20million. 1010 is substantially owned by Chuk Kin (CK) Lau and has a market capitalisation of approximately A$110 million. Private equity funds are seen to be the most likely investors in the company.

Local industry hopes are focused on an injection of much-needed investment in Opus, which has been starved of funds in recent times. An announcement on the equity recapitalisation, which would be subject to the approval of OPUS shareholders, is expected in the near future.

OPUS and 1010 have had commercial links for several years through respective senior management connections. As the product offerings are largely complementary and in many cases to the same international customer base, OPUS and 1010 have consulted from time to time on business initiatives and as a result have developed a mutually respectful relationship.

Opus enjoyed stellar growth in recent times culminating in the reverse takeover of McPherson Printing. It is a diversified graphic communication business that targets a range of increasingly global customers.

Comment on this article

To receive notification of comments made to this article, you can also provide your email address below.