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iDreamSky Technology Holdings Limited ( (HK:1119) ) has shared an update.
iDreamSky Technology Holdings Limited has completed the issuance of 38,085,937 new shares under a general mandate, with each share priced at HKD1.024. The proceeds, amounting to approximately HKD39 million, will be used to offset royalty fees payable by Shenzhen iDreamSky. This issuance represents a slight dilution of existing shares, with the new shares accounting for about 2.11% of the company’s enlarged share capital. The transaction reflects strategic financial management by the company, potentially impacting its market positioning by strengthening its financial structure without immediate cash outflows.
More about iDreamSky Technology Holdings Limited
iDreamSky Technology Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the technology sector. The company focuses on providing digital entertainment services, including mobile games and related products, with a significant market presence in Hong Kong.
YTD Price Performance: -59.26%
Average Trading Volume: 13,020,216
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.97B
For an in-depth examination of 1119 stock, go to TipRanks’ Overview page.