iDreamSky Technology Holdings (HKG:1119) completed the placement of 119,850,400 shares for the net proceeds of HK$254.1 million, according to a Wednesday filing on the Hong Kong bourse.
The placement price per share was HK$2.15. The placed shares amount to 7.09% of the total issued share capital.
The proceeds from the placement will be used for research and development and general business purposes.
The technology company stocks were down by over 4% at the end of trading.
Price (HKD): $2.20, Change: $-0.11, Percent Change: -4.76%
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