Chinese company Colorland Animation has raised $1.4m from a share listing on the Singapore stock exchange.
The company, which is based in Shenzhen and has production facilities in Hong Kong and Singapore, has focused on sub-contracted 2D and 3D production for European, US and Australian animation companies.
Clients include Germany's BKN International, the UK's Animation Productions (Toonimals), France's France Animation (Wheel Squad), Australia's Yoram Gross (Blinky Bill, Tabaluga 1 & 2, Skippy) and the US' Tundra Productions (Rudolph 2D, Rudolph 3D, Bible Video series).
Louis Sek, group chairman and CEO, said the proceeds of the flotation will be used to develop and produce its own material, especially 3D animated series and feature-length video fare.
The flotation, which makes Colorland one of the first Chinese media firms to list in Singapore, sold a total of 20 million new shares, representing 20% of its capital, at a price of S$0.2 each. At that price the company is valued at $11m (S$20m). Revenues were $8m last year and it made profits of $2m.