Seek for additional criteria addition at this year’s African Banker Awards

Must Read

FG, States, LGAs share N528.39bn FAAC allocation in Jan 2021

The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Cityneon Raises S$235 Million; Well Positioned for Next Growth Chapter

  • The global experience entertainment company gets a S$235 million shot in the arm, closes its private fund raising in April 2021
  • Investors both new and existing include Singapore's Pavilion Capital, Seatown Holdings International and EDBI, Qatar's Doha Venture Capital and financial institutions and family offices in Singapore and China
  • These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan
  • Funding comes just after the Group acquired multi-year licensing rights for James Cameron's AVATAR touring exhibition, and two original artefacts IP on the ancient civilization Machu Picchu from Peru and Ramses the Great (Ramses II) from Egypt
  • Investments position the Group well to bring experiences across the globe, targeting to launch six experiences in China and five in the U.S. by the end of 2021, with more in other parts of the world

SINGAPORE - Media OutReach - 21 April 2021 - Cityneon Holdings ("Cityneon", the "Company"/collectively with its subsidiaries, the "Group") raised S$235 million in the most recent round of private funding. The latest round of funding adds seasoned investors to Cityneon's already strong stable of shareholders.

This funding round was led by Singapore's Pavilion Capital, Seatown Holdings International, EDBI, and Cityneon's Executive Chairman & Group CEO, Mr. Ron Tan. EDBI and Pavilion Capital are existing shareholders of Cityneon whilst new investors include Seatown Holdings International, Qatar's Doha Venture Capital, which will now own approximately 4 per cent of the Group, and other financial institutions and family offices in Singapore and China.

These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan to form a new and strong shareholder base for the Group. Mr. Johnson Ko and Mr. Ron Tan remain as the largest shareholders of the company via their combined entity, West Knighton Limited.

The Group is now well positioned for its next growth chapter and will use the proceeds for capital expenditure that includes building more of its various intellectual property (IP) exhibition sets, totaling 24 travelling and four semi-permanent sets under the Studio IP partnerships and three travelling sets under the original artefact IP partnerships by the end of 2022.

Already, the Group just signed its fifth IP rights with Avatar from 20th Century Studios last year. Amidst the anticipation from Avatar fans worldwide, Cityneon will debut a multi-sensory Avatar exhibition in Chengdu, China in May 2021, ahead of the Avatar movie sequel which is slated for release in 2022. Avatar is the world's top grossing film of all time at over US$2.8 billion, and adding millions more after its successful re-release in China in March 2021. Avatar's director James Cameron has announced that he will be producing four sequels with 20th Century Studios, with the first sequel slated for release next year. Disney acquired 20th Century Studios for US$71 billion in 2019.

The Company also recently entered the original artefacts IPs space and will stage international exhibitions of the treasures of the ancient civilization Machu Picchu from Peru in Boca Raton, Florida and Pharaoh Ramses II from Egypt in Houston, Texas. These two experiences will start welcoming visitors in October and November 2021, respectively.

Other IP rights that the Group holds include partnerships with Universal Studios for Jurassic World: The Exhibition, Marvel for Avengers S.T.A.T.I.O.N., Lionsgate for The Hunger Games: The Exhibition and Hasbro for Transformers Autobot Alliance. All in, Cityneon holds the IP rights for five of the top 10 worldwide box office hits and two artefacts IP from Peru and Egypt. The Group expects to have six sets of its various IP rights travelling across China, and five travelling and permanent sets in the United States, with a few more in other parts of the globe.

The Group will also be reopening experiences that were temporarily closed in 2020, aiming to provide visitors with a safe entertainment option. These include the Marvel Avengers S.T.A.T.I.O.N. in Toronto, Canada that will be re-opening in May 2021; and the Marvel Avengers S.T.A.T.I.O.N. exhibition in Lotte Mall in Seoul, Korea in April 2021; the same exhibition space which previously housed Jurassic World: The Exhibition, another IP experience exhibition by the Group in 2019. In the past month, the Group also witnessed record visitor numbers at their semi-permanent installations in Las Vegas, USA, signaling a strong comeback and demand for their immersive experiences, as they step into the 6th year of operations there.

While there are exciting plans lined up, the Group is not resting on its laurels. More Hollywood IPs and artefact IPs can be expected, and there will be further announcements on new IP verticals in entertainment experiences that the Group is looking to enter.

Mr. Ron Tan, Executive Chairman & Group CEO of Cityneon, said: "It is exciting that the Company is going through such strategic expansion as one of the largest providers of exhibition entertainment experiences globally. The S$235 million funding round sets a solid foundation for us to invest in developing more of our entertainment experiences, to stage even more exhibitions of the five box office hits and two artefact IPs that we hold the rights to all over the world. I'm thankful that our strong investors base, now from Singapore, Hong Kong, China and the Middle East, have trust in our vision, and believe alongside us that this space of big ideas and big experiences will only grow."

By the end of this year, Cityneon will arguably be the largest provider of exhibition entertainment experiences internationally; with global footprints in more than 50 cities and welcoming 10 million unique visitors across the world by 2022.

Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon's Executive Chairman and Group CEO, Ron Tan, together with Hong Kong veteran entrepreneur and investor, Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds approximately 10% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China's largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Other institutional shareholders of the Group include EDBI - a Singapore government-linked global investor, and Pavilion Capital - a Singapore-based investment institution which focuses on private equity investments, that made strategic investments in August and October 2019 respectively, to support the Group's further expansion globally. For more information, please visit www.cityneongroup.com.


Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurFacebook | Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurYoutube | Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurLinkedIn | Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurInstagram | Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurToutiao | Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurYouku

Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurWeibo | Wechat:

Seek for additional criteria addition at this year’s African Banker Awards - Brand Spur


Seek for additional criteria addition at this year’s African Banker Awards - Brand Spur
- Advertisement -

The Awards, taken yearly on the margins of the Year-end Meetings of the African Development Bank, have proved themselves as the Oscars of African banking.

Heroes of the 2019 version of the African Banker Awards (AfricanBankerAwards.com) were declared at a prestigious Gala Dinner in Malabo, Equatorial Guinea. The Awards held yearly on the fringes of the Annual Meetings of the African Development Bank, have confirmed themselves as the Oscars of African banking honouring excellence in banking and finance on the African continent.

Read Also:  Coronavirus: WHO Concerned As COVID-19 Cases Accelerate In Africa

No individual region dominated this year’s awards although there was a call from the organisers for greater effort to ensure banking was more inclusive, both in terms of gender representation across senior management in banks and lending to the small and medium-sized enterprises. This call was echoed by the two main sponsors of the awards, the African Guarantee Fund and the Bank of Industry, both of whom have created a number of innovative instruments and mechanisms to lend to the SME sector.

The two big awards of the night went to development finance institutions. Afreximbank won Bank of the Year and the Trade and Development Bank’s President, Ethiopian Admassu Tadesse, won African Banker of the Year. TDB has grown its portfolio five-fold since Tadesse took over as President, largely increasing its presence in East and Southern Africa, where it operates. Afreximbank in the past 18 months has launched a number of game-changing products.

- Advertisement -

This year’s lifetime achievement went to former First Rand Group CEO, South African Sizwe Nxasana. Under his leadership, the bank grew at a compound annual growth rate of 20%. In his acceptance speech, he called for even greater investment in human capital if we wanted to accelerate growth on the continent.

The African Banker Icon went to Mitchell Elegbe, founder of Interswitch, the payments service provider. His company is predicted to be Africa’s first Africa-led unicorn – tech starts up whose value exceeds $1bn.

Egyptian Central Bank Governor, Tarek Amer won Central Bank Governor of the Year, for his work in restoring faith in Egypt’s markets and contributing to making it one of the fastest growing economies in the world and one of the best performing emerging markets.

Romuald Wadagni from Benin won Finance Minister of the Year. He has managed to considerably improve the country’s macro-economic indicators as well as embarked on a number of reforms to structurally transform of the economy.

- Advertisement -

South African banks dominated the investment banking and deals of the year categories. Absa won Investment Bank of the Year. Standard Bank and RMB won the equity deal of the year with the VIVO Energy IPO. Deal of the year in the debt category went to Rothschild & Co for the Senegal $2.2bn equivalent dual-currency Eurobond and Credit Agricole and TDB’s financing of the Floating LNG platform in Mozambique won the infrastructure Deal of the Year.

In other categories, Ecobank won Retail Bank of the year; Kenya’s KCB won the prize for innovation and Equity Bank for its CSR activities. Nigeria’s Bank of Industry won the prize for Financial Inclusion.

Read Also:  GOOGLE ACCUSED OF HELPING TELEGRAM CHAT SERVICE EVADE RUSSIAN BAN

Commenting on the impressive achievements of the banks shortlisted for the 2019 awards, Omar Ben Yedder, Publisher of African Banker said: “We’ve been following the work of the financial services industry for many years. The sector over the years has seen great returns, and 2018 was another strong year for banks. Undoubtedly FinTech was the most buoyant sector in terms of tech investments and we are yet to truly see the transformative impact it can have. Despite the positive stories from the banking sector, the words of the winner of our Banker of the Year still resonate when he said last year at the Africa Investment Forum: we need to speed up, scale up and synergise. ”

The Awards took place in Malabo, Equatorial Guinea, on the sidelines of the African Development Bank Annual Meetings which are now officially open. The country was for many years the fastest growing in Africa with massive capital expenditure. Following the fall in the price of oil however, the country is on a plan to structurally reform its economy.

- Advertisement -

The awards, which are held under the high patronage of the African Development Bank, are sponsored by the African Guarantee Fund as Platinum Sponsor, the Bank of Industry as Gold Sponsor and Coris Bank as Associate Sponsor. The Host Sponsor this year was Banco Nacional de Guinea Ecuatorial, by far the country’s biggest bank in terms of assets and footprint. The awards were preceded by a cocktail reception hosted by Afreximbank.

THE 2019 AFRICAN BANKER AWARD WINNERS

African Banker of the Year
Admassu Tadesse, TDB

Lifetime Achievement Award
Sizwe Nxasana, former CEO, First Rand Group

African Banker Icon
Mitchell Elegbe, Founder, Interswitch Group

African Bank of the Year
Afreximbank

Minister of Finance of the Year 
Romuald Wadagni, République du Benin

Central Bank Governor of the Year 
Tarek Amer, Central Bank Governor, Egypt

Best Retail Bank in Africa
Ecobank

Investment Bank of the Year
Absa Capital

Award for Financial Inclusion
Bank of Industry, Nigeria

Special Commendation for their contribution to the development and financing of the Rural Sector: Banco Nacional de Guinea Ecuatorial (BANGE)

Socially Responsible Bank of the Year
Equity Bank, Kenya

Innovation in Banking
KCB, Kenya

Special Commendation: JUMO, South Africa

Deal of the Year – Equity
Vivo IPO
Standard Bank & Rand Merchant Bank (South Africa)

Deal of the Year – Debt
$2.2bn Senegal Eurobond
Rothschild

Infrastructure Deal of the Year 
Mozambique Floating LNG
TDB & Credit Agricole

Regional Bank of the Year
East Africa – KCB, Kenya
West Africa – Orabank
North Africa – Banque de l’Habitat (Tunisia)
Southern Africa – Mauritius Commercial Bank
Central Africa – BGFI, Gabon

- Advertisement -
Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurSeek for additional criteria addition at this year’s African Banker Awards - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurSeek for additional criteria addition at this year’s African Banker Awards - Brand Spur

Latest News

GTBank Releases Q1 2021 Unaudited Results, Reports Profit Before Tax Of N53.7Bn

Guaranty Trust Bank (GTBank) Plc has released its unaudited Financial Results for the period ended March 31, 2021, to...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Seek for additional criteria addition at this year’s African Banker Awards - Brand SpurSeek for additional criteria addition at this year’s African Banker Awards - Brand Spur