DQE India prepares for IPO

Bombay listing awaits for India subsidiary of London company

HONG KONG -- Indian animation group DQ Entertainment said it is planning a share listing on the Bombay Stock Exchange for its DQE India subsidiary.

The parent company, which is already listed on the AIM section of the London Stock Exchange, said that the IPO will cut its holding in DQE India from a current 100% to not less than 75%. The proceeds will fund the unit's current growth plans.

The DQ group has shunned the sub-contracting business in favor of original production and international co-productions and now has films and TV series in the works with studios including DreamWorks Animation, Classic Media, France's Moonscoop and Turner Entertainment.

Other Asian movie firms targeting a share listing include China's Huayi Brothers and China Film Group.