CMGE Technology Group Raises HK$167 Million via Share Placement

MT Newswires Live07-23

CMGE Technology Group (HKG:0302) allotted and issued 100 million subscription shares to Farrich Investments at HK$1.68 per share, raising about HK$167.0 million in net proceeds, a Monday filing with the Hong Kong Exchange said.

The company plans to use the proceeds to strengthen its IP-based game development and publishing business by acquiring or investing in leading game developers and IP rights related to promising game-genre-related multimedia and literature in China.

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