Children''s animation producer and distributor BKN International raised $59.5m (euros61.2m) from its IPO on Frankfurt''s Neuer Markt last week.

The German subsidiary of US concern BKN Inc will use a portion of proceeds from the sale to increase its European production capacity by opening a European studio with facilities in Cologne and Paris. In addition, BKN intends to use the fresh injection of cash to finance the opening of a branch office in London to perform licensing and merchandising activities.

Meanwhile, the latest media company to go public - the Munich-based children''s animation studio TV-Loonland - will begin trading on the NeuerMarkt from March 22.