BERLIN — Munich-based children’s programming hotshot EM.TV & Merchandising AG has secured more than DM480 million ($258 million) through a capital increase based on a stock price set Wednesday at $43.
Altogether, 10.8 million new shares have been issued and will go out for trading Friday.
“We have more than reached our goal,” said chairman Thomas Haffa. “The financing of further company growth as well as the shares in Tele-Munchen, Constantin Film, Plus Licens and the Trick Co. have been completely secured.”
EM.TV’s is the second listed media company to go for a capital increase in recent weeks. In late October, leading German film distributor Kinowelt Medien completed its own capital increase, which raised $244 million.