Spanish toon co Zinkia eyes future U.S. growth
MADRID — Spanish toon house Zinkia Ent., the creator of global pre-school brand “Pocoyo,” has won a greenlight from the U.S. SEC to list on the New York Stock Exchange’s Over the Counter market.Move will allow Zinkia to “diversify its investment base, as well as improve its positioning in the U.S. market, essential for company development,” Zinkia said in a statement. Executed on existing shares, the listing does not involve a capital increase. Zinkia shares will trade on the NYSE in the form of American Depositary Receipts, a physical certificate that endorses the deposit of stocks in a U.S. bank — The Bank of New York Mellon, in this case — for companies that have been established outside the U.S. In Spain, Zinkia initiated a public listing July 2009 on the MAB Alternative Stock Market for Growth Companies. “Many U.S. investors have restricted access to companies that are not listed in the U.S. market,” said a Madrid-based analyst. Given Zinkia’s status as a start-up company, “this ADRs on the Over the Counter market is an opportunity to offer confidence and credibility to the U.S. investors, thinking of future U.S. growth,” the analyst added. Zinkia’s challenge will be to attract investors at a time when the market is regarding Spanish media stocks with caution. CGI TV series “Pocoyo” accounts for more than 80% of Zinkia’s revenues. It has been licensed to more than 100 countries, triggering a slew of merchandising, publishing and licensing deals. “Shuriken School,” another pre-school series, is produced by Zinkia and French toon studio Xilam Animation.
Want Entertainment News First? Sign up for Variety Alerts and Newsletters!