iDreamSky Technology to Issue New Shares to Settle Royalties, Fund Game Promotion; Shares Rise 6%

MT Newswires Live

Sep 30

iDreamSky Technology (HKG:1119) agreed to issue new shares through a mix of capitalization and subscription agreements, according to a Tuesday Hong Kong bourse filing.

Of the total, 166.4 million shares will be issued to PLR Worldwide Sales to offset $23.5 million in royalty fees owed by Shenzhen iDreamSky.

Another 69.8 million shares will be issued to investors, raising about HK$76.3 million in net proceeds.

The new shares represent about 11.6% of iDreamSky's enlarged issued share capital. The issue price represents a 4.6% premium to the last closing price of HK$1.05.

The company said net proceeds will mainly fund game promotion and operations, with the balance for general working capital.

Shares of the firm jumped nearly 6% in Tuesday morning trade.

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The issue price represents a 4.6% premium to the last closing price of HK$1.05.</p><p>The company said net proceeds will mainly fund game promotion and operations, with the balance for general working capital.</p><p>Shares of the firm jumped nearly 6% in Tuesday morning trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01119","symbol_name":"创梦天地","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2571739694","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2571739694","pubTimestamp":1759199991,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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