18/12/2007 The London Stock Exchange is delighted to welcome DQ Entertainment plc to AIM
18 December 2007
The London Stock Exchange is delighted to welcome DQ Entertainment plc to AIM
DQ Entertainment plc today announces its admission to trading on AIM under the ticker symbol DQE.
As a leading animation production company, it is engaged in the production of 3D, 2D, 2D digital animation, VFX for films, television and home videos, as well as in-game animation and art for Xbox 360, PlayStation 2 and 3 and other platforms. It has a dedicated work force of over 2,200 full time employees and production facilities based in Hyderabad, India.
The Group has over 80 clients worldwide including Nickelodeon Animation Studios Inc., Electronic Arts, Mattel Toys, Marvel Characters Inc., American Greetings, Sony Animation, Method Films, MoonScoop and Take 2 Interactive, Walt Disney Television Animation.
Following the successful placing of 19,727,961 new ordinary shares priced at £1.36 per share, raising capital of £26.8 million, DQ Entertainment will have a market capitalisation on admission of £48.9 million.
Commenting on the admission to AIM, Chairman and CEO Tapaas Chakravarti said:
“DQE’s flotation on AIM will boost the international profile of DQE and give impetus to its already established business model. DQE provides investors with the opportunity to invest in the rapidly growing global animation market. The global animation and game art industry has witnessed a paradigm shift in the use of technology to fulfil ever increasing creative needs across all platforms of distribution. The capital raised will allow DQE to keep pace with these technological advances, manage its growth and deliver great value to the shareholders in the coming years.”
Evolution Securities is acting as Nominated Adviser and Broker to the Company.