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News and Information Article
Unicorn announces US$25m capital raising for TMG via private placement
KUWAIT CITY, Kuwait, Sept. 27 // -- Teshkeel Media Group, KSC
(TMG) announced today a comprehensive agreement with Unicorn Investment
Bank (UIB) to advise and lead a second phase of capital raising. The
agreement was announced by Majid Al-Sayed Bader Al-Refai, Managing Director
and CEO of UIB, and Naif Al-Mutawa, CEO of TMG.
UIB will underwrite and assist TMG in the raising of US$25 million for
the offering. TMGs current investor base includes large GCC institutions -
the Commercial Bank of Kuwait, Bayan Investment Company, Safat Investment
Company, Al-Aswak Company and retail group MH Shaya Company - as well as a
consortium of private investors from the United States, Mexico, China,
Saudi Arabia, Jordan, Lebanon, Egypt and Kuwait.
Headquartered in Kuwait, TMG develops and publishes comics and other
childrens entertainment for the Arab speaking world. They are the
exclusive Arabic translation partners of Marvel Entertainment, Archie
Comics and DC Comics for the Middle East and North Africa and have
developed and launched their own award-winning series, The 99,
incorporating the worlds first group of superheroes based on Islamic
culture. Stories are woven around 99 characters endowed with Islamic
traits, with each character personifying a particular Islamic attribute.
The series has received critical acclaim from the international media
including The New York Times, The Washington Post, The Wall Street Journal
and the Guardian.
Yasser Abbady, Director of Corporate Finance at UIB, commented, "TMG
has identified and successfully developed unique content for the young,
highlighting Islams rich culture and heritage. With a substantial
proportion of the regions population under the age of fifteen, TMGs
management vision coupled with their award-winning concept of The 99
makes this a very attractive investment indeed."
Naif Al-Mutawa, CEO of TMG, said, "Were extremely excited and proud to
be working with a world-class Islamic investment bank such as Unicorn.
Unicorn fits our company needs at an operational level, a Sharia-compliant
level and a cultural level. It is an added boost to The 99 superheroes."
"This Ramadan, the world has new heroes," he added.
Notes to Editors
About Teshkeel Media Group, KSC
Teshkeel Media Group, KSC is one of the Middle Easts leading
developers of comics and childrens entertainment. Based in Kuwait, and
with offices in New York, the Companys mission is to fill a significant
void in positive, high-quality childrens content in the region, including
in print and electronic media, film and television. In addition to working
with global publishers, TMG is also developing its own properties,
including its new superhero concept, The 99, which it launched in the
region in 2006.
Websites:
http://www.teshkeelcomics.com and http://www.the99.org
About Unicorn Investment Bank
-- Unicorn Investment Bank commenced operations on 5 May 2004 in the
Kingdom of Bahrain.
-- In its first eight months of business, UIB achieved revenues of
US$36.4m and a net profit of US$17.1m.
-- In 2005 (its second year of operation), UIB reported full year
revenues of US$52.6m and a net profit of US$24.2m.
-- Unicorn recently announced half-year results for the six months ended
June 30, 2006 of US$43.4m revenues and US$23.8m net profit.
-- UIB has also doubled its capital to US$233 million following a
successful round of fund raising in July 2006.
-- UIB has achieved a number of "firsts" in Islamic banking. In November
2005, the Bank closed the "KSA Real Estate Fund-1," the first-ever
equity fund to allow non-Saudi nationals to invest in the growing
Saudi Arabian property market via an innovative financial and legal
structure.
-- UIB began raising capital in May 2006 for a US$150m Sharia-compliant
private equity fund to target private equity investments globally, the
worlds first global Islamic private equity fund. The Fund will invest
in selected geographical locations and sectors in order to benefit
from cyclical upturns around the globe while diversifying risk.
-- In May 2006, UIB launched "Gulf Springs," the first pan-GCC real
estate fund, in partnership with leading real estate developers in
each GCC market, who as founding investors, bring local knowledge and
investment opportunities.
-- UIB has recently closed "KSA MBS 1 International Sukuk," the GCCs
first Sharia-compliant asset-backed security: a debt product designed
for home financing companies in the Kingdom of Saudi Arabia (akin to a
mortgage-backed security) in partnership with a multilateral
organization and underwritten by a global institution.
-- Since its inception, UIB has already advised, structured and
successfully placed deals with a total value in excess of US$1
billion.
Website:
http://www.unicorninvestmentbank.com
Media contacts:
Unicorn Investment Bank:
Mark Lunn of Gavin Anderson & Co, London
Bahrain Tel: +973 17 566 000
UK Tel: +44 (0) 20 7554 1400
UK Mobile: +44 (0) 7775 992 309
mlunn@gavinanderson.co.uk
George Tucker of Gavin Anderson & Co, London
Bahrain Tel: +973 17 566 000
UK Tel: +44 (0) 20 7554 1400
UK Mobile: +44 (0) 7917 218 951
gtucker@gavinanderson.co.uk
Teshkeel Media Group, KSC:
Dr. Naif Al-Mutawa
965-961-8666
naif@teshkeel.com
This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.
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