Nova Scotia Business Inc., (NSBI) has sold its shares in DHX Media Ltd, generating a positive return on investment for Nova Scotia.
“DHX Media is a great story for Nova Scotia. NSBI’s Venture Capital division invested in them when they were a young entrepreneurial company and today they are an international success story. Our role as an investor is done,” said Peter MacAskill, Vice President of NSBI.
In 2005, NSBI invested $3 million and last week sold its 1.6 million shares at $5.25 a share, generating proceeds of over $8.4 million. This investment has more than doubled, resulting in a return of over $5.4 million.
“NSBI’s investment was critical to our initial growth. We are pleased that the willingness to risk investment at an early stage in a Nova Scotia media company has resulted in a capital gain for the province,” said Michael Donovan, CEO and founder of DHX Media Ltd.