CMGE Technology Group Targets HK$94 Million From Share Placement

MT Newswires Live10-14

CMGE Technology Group (HKG:0302) is set to raise HK$94.2 million in net proceeds from a share placement, a Sunday Hong Kong bourse filing said.

The company will issue 105,777,777 shares to three subscribers at HK$0.90 per share.

The subscribers are Infini Global Master Fund, Farrich Investments, and Actoz Soft Hong Kong. The total shares to be issued represent 3.58% of CMGE's enlarged issued share capital.

The IP-based game developer and publisher plans to use the net proceeds from the deal to acquire or invest in leading game developers and strong IP rights relating to promising animations, literature, games, and motion pictures in China.

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