[{"_1":2,"_84":-5,"_85":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_73":74,"_81":76,"_82":64,"_83":65},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_66":67,"_68":69,"_70":71,"_72":32},"documentId","b51tb5vj47ul1mxg54a6n2ka","title","Gaming Company iDreamSky Secures Additional Investment From Tencent and Others","slug","gaming-company-idreamsky-secures-additional-investment-from-tencent-and-others","excerpt","On Sunday, iDreamSky, a mobile game development company, announced at the Hong Kong Stock Exchange (HKEx) that its major three shareholders have all subscribed for more shares.","content","\n

On Sunday, iDreamSky, a mobile game development company, announced at the Hong Kong Stock Exchange (HKEx) that its major three shareholders have all subscribed for more shares.

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Specifically, Brilliant Seed, Tencent Mobility and Instant Sparkle subscribed for 13.14 million shares, 13.14 million shares, and 6.57 million shares of the company, respectively. The subscription shares represent approximately 2.50% of the existing issued share capital of the company as of the date of its announcement, approximately 2.44% of the issued share capital of the company as enlarged by the subscription, and approximately 2.31% of the issued share capital of the company as enlarged by the placing and the subscription. The company expressed that the net proceeds from the subscription are estimated to be about HK $195 million ($25 million).

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iDreamSky stated in the announcement that on November 26 (after trading hours), the company and the placing agent entered into the placing agreement, pursuant to which the company has agreed to appoint the placing agent, and the placing agent has agreed to act as agent for the company, to procure, on a best effort basis, placees to subscribe for a maximum of 72.28 million placing shares at the price of HK $5.92 per share. The estimated net proceeds from the placing are expected to be approximately HK $427.04 million.

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According to the announcement, the company intends to use the estimated net proceeds of the placing and the subscription for its general working capital, research and development of its self-developed games, expansion of the group’s offline stores and other possible future investments.

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It is worth mentioning that among the companies participating in the subscription, Tencent Mobility is a wholly-owned subsidiary of Tencent Holdings Limited. In fact, Tencent is the largest institutional shareholder of iDreamSky, and has always strongly supported the development of iDreamSky. iDreamSky also handed over the exclusive agency rights of several self-developed games to Tencent. Many Tencent executives even participated in the strategic planning of creating an iDreamSky world together.

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On August 25, 2020, iDreamSky announced that Yao Xiaoguang, vice president of Tencent Holdings Limited and president of TiMi Studio Group, and Chen Yu, vice president of Tencent Holdings Limited and president of f Lightspeed & Quantum Studios Group, were appointed as non-executive directors and members of the company's strategic committee respectively to participate in the company's long-term strategic planning.

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In terms of cooperation, in March 2021, iDreamSky was authorized by Tencent the QQfamily IP. In July, the first QQFamily flagship store jointly built by both parties opened in Shenzhen Happy Coast. The QQFamily flagship store was superimposed with the designer toy business, which was also the first time that iDreamSky entered the designer toy business. In November, iDreamSky released an announcement of licensing agreement for using Tencent's QQ Series Image. According to the announcement, iDreamSky is authorized to use the QQ Series Images for the planning, production and sales of designer toys. The sales channel covers all online and offline channels recognized by Tencent, including but not limited to iDreamSky’s own channels and the joint distribution channels with third parties.

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Tag: #iDreamsky*

Gaming Company iDreamSky Secures Additional Investment From Tencent and Others