Unicorn joins Teshkeel to fund comic publisher

Dubai: Teshkeel Media Group KSC (TMG) announced yesterday 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 $25 million for the offering. TMG's 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 children's 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 world's 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.

Yasser Abbady, Director of Corporate Finance at UIB, commented, "TMG have identified and successfully developed unique content for the young, highlighting Islam's rich culture and heritage. With a substantial proportion of the region's population under the age of fifteen, TMG's management vision coupled with their award-winning concept of 'The 99' makes this a very attractive investment indeed."