Sports personality animation outfit Sports Stars Media became the first Portuguese company to be listed on London's AIM market on Wednesday.
The company raised £1.6m of funds before expenses from a range of new and existing investors by a placing and offer for subscription of new ordinary shares at a price of 1p per share.
The company plans to use the funds to finance the creation of a children's series called "Mourinho and the Special Ones", using a character based on the famously modest Portuguese football manager Jos Mourinho.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
According to the company's self-promoting blurb, the group's concept has evolved from the experience and expertise of Ruben Dias and Pedro Maria, the group's Chief Executive Officer and Production Director respectively, who co-founded Big Storm Studios, which has recently produced Gombby, a children's computer generated imagery (CGI) animation television series aimed at pre-school children.
The directors intend to apply this experience and expertise to the production and commercialisation of "Mourinho and the Special Ones".
A total of 360.2m ordinary shares have been admitted to trading on AIM. The first day of trading was not particularly a special one; the stock traded in a range spanning 1.1p to 1.2p and closed at 1.12p.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
