DQ Entertainment plans IPO in India

By SiliconIndia   |   Tuesday, September 29, 2009
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New Delhi: By looking at the potential in the Indian primary market, DQ Entertainment, an animation and visual effects firm plans to launch an initial public offering (IPO) in India. The company which is already listed in London plans to raise additional funding through the IPO. In a regulatory filing to the London Stock Exchange, DQ Entertainment said, "DQE India, a wholly-owned subsidiary company in India, proposes to raise funds to meet its growth plans by way of a potential public offering in India." However, the company did not disclose the financial details of the potential offering being planned in the Indian capital market. DQ Entertainment, was the first animation production, distribution and licensing company to be supported by five major venture equity partners, who exited the firm at the time of its listing on the Alternative Investment Market (AIM) of the London Stock Exchange in 2007. "It is currently intended that any funds raised by DQE India will be such that the dilution to the company's beneficial ownership shall be no more than 25 percent," the filing added. The company has a workforce of around 3,000 people and a global client/partner base of over 90 producers, distributors, broadcasters and licensors.
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