Spain's Zinkia to float on alternative market
First new company to go public in Spain in the past yearMADRID -- Spanish audiovisual content provider Zinkia, creator of the hit children's animated series "Pocoyo," is to list on Spain's alternative stock market Wednesday, the company announced.
It will be the first company to be listed on the Mercado Alternativo Bursatil's growth companies sector and the first new company to go public in Spain in the past year.
"Zinkia has mapped out a solid strategy for the future and by floating on the stock market. The company will be able to greenlight new projects as well as strengthen existing properties and projects which in turn will boost the value of the company," president Jose Maria Castillejo said.
"It might not at first glance seem like a good time to go to the market, but the shares will be cheaper than we originally planned which is good for investors and in these tough times we'll get a cash injection," he said.
Spanish news reports said the shares will float at €1.92 ($2.68) each and that the offer had already sold out.
Castillejo said the money raised on the market will be used to help finance two new animated children's series Zinkia is producing, plus a "Pocoyo" animated feature film with a planned release date of 2011 or 2012.
"We're already interviewing top script writers in the States for this project," he added.
Based in Madrid, Zinkia was founded in 2001 and has won awards for its animation and interactive content.
"Pocoyo," which follows the adventures of a boy and his gang of friends, which is aimed at preschoolers, is licensed in 100 countries and is now a multiplatform brand.
Zinkia also produces the multiplayer soccer game Copa Coca-Cola, mobile phone games "Word Hunter" and "Wireless West" and console games "Playchapas" for PlayStation Portable and "Hello, Pocoyo!" for Nintendo DS.
The alternative market on which Zinkia is to be listed is supervised by the Spanish securities market regulator and is aimed at small and medium-size companies looking to increase their capitalization, liquidity, transparency and visibility in the investment community.