iDreamSky Completes New Share Placement

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

iDreamSky Technology Holdings Limited has successfully completed the placement of new shares under its general mandate, with a total of 119,850,400 shares placed at HK$2.15 per share. The gross proceeds from the sale amount to approximately HK$257.68 million, which the company plans to use primarily for the research and development of key products and for general working capital. This new share issuance represents about 7.09% of the enlarged issued share capital of the company.

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