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CDI’s animation unit to list in London

The 3D animation film outsourcing company will list its newly incorporated company, MediaOne Ventures Limited, on AIM of the London Stock Exchange this year, reports Gaurav Choudhury.

business Updated: Jun 16, 2007 03:06 IST
Gaurav Choudhury
Gaurav Choudhury
Hindustan Times

Compact Disc India Ltd (CDI), a 3D animation film outsourcing company, will list its newly incorporated company, MediaOne Ventures Limited, on the Alternative Investment Market (AIM) of the London Stock Exchange this year to raise an estimated $50 million, the company said on Friday.

AIM supports new companies typically with a market capitalisation of $5 million up to $150 million. The regulatory systems are governed by the LSE itself and are flexible. The market now has a total of 1,600 listed companies, including over 250 from outside the UK.

CDI said in a statement that through MediaOne Ventures Ltd, CDI plans to make four international film projects every year either on its own or in co-productions with leading Hollywood film production companies.

CDI has already appointed the largest law firm in the UK, Howard Kennedy and investment bankers, Society General Hambros, for its planned issue.

CDI has already signed a $ 20.15 million deal to co-produce a Hollywood animated film GoaaaaaL! with Motion Pixel Corporation (MPC), a Los Angeles-based film production house.

CDI is negotiating with two other film production houses.

First Published: Jun 16, 2007 02:34 IST