CMGE Technology Group Raises HK$94 Million From Share Placement

MT Newswires Live10-22

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

The company issued a total of 105,777,777 shares to three subscribers, Infini Global Master Fund, Farrich Investments, and Actoz Soft Hong Kong, at HK$0.90 per share. The total shares 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.

The company's shares closed over 1% lower on Tuesday.

Price (HKD): $0.83, Change: $-0.010, Percent Change: -1.19%

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