iDreamSky Announces New Share Placement

iDreamSky Technology Holdings Limited (HK:1119) has released an update.

iDreamSky Technology Holdings Limited has announced a placement of new shares, amounting to approximately 7.63% of its existing issued share capital, at a price of HK$2.15 per share, aiming to raise around HK$257.68 million. The net proceeds are intended for the development of key products, overseas distribution, and general working capital. The company will issue these shares under a general mandate from their 2023 AGM, without requiring further shareholder approval.

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