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C21May iPad

Colorland raises $1.4m for own productions

Chinese animation service studio Colorland Animation has raised $1.4m to fund its own productions, after a successful share listing on the Singapore stock exchange.

The flotation makes Colorland one of the first Chinese media firms to list in Singapore. A total of 20m shares were sold at S$0.2 each, representing 20% of Colorland capital. The company is thus valued at $10.9m (S$20m).

The new money will underwrite a move by Colorland into developing and producing its own original programmes, in particular series and feature-length cgi video material.

With outposts in HK and Singapore, the Shenzhen-based company has traditionally made its money from out-sourced 2D and 3D animation work from US and European animation outfits.

Recent clients include the UK's Animation Productions (Toonimals), the US’s Tundra Productions (Rudolph 2D, Rudolph 3D, Bible Video series), Germany’s BKN International, France Animation (Wheel Squad), and Australia’s Yoram Gross (Blinky Bill, Tabaluga 1 and 2, Skippy).

Last year, Colorland's revenues stood at $8m and it made profits of $2m.

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