Igel Media set to go public
German prod'n, distrib'n co. to raise $40 mil with shares
The German company, which specializes in the production and distribution of animation, children's and documentary programming, will put up an ownership stake of just under 50%.
Igel Media, which has around 4,000 hours of programming on its books, plans to raise around $40 million by issuing 1.35 million shares.
"It's an exciting time for our company," said managing director Christain Lehmann-Feddersen. "We will be able to play a far stronger role in co-production and retain more rights. We will be able to speed up projects already in development and cast a wider net when looking for new ones."
Igel Media plans to use the equity to expand significantly its overseas market power, focusing on the U.S. "The United States is becoming more important for us because many of the leading U.S. companies are looking for European and especially German partners."
In post-production is the animation feature film "A Christmas Carol" being exec produced by Nick Powell ("The Company of Wolves," "The Full Monty") and Lehmann-Feddersen.
