IDreamSky Technology (HKG:1119) is looking to place up to nearly 187.9 million shares to raise HK$56.6 million, a Thursday bourse filing showed.
Shares of the game developer were down over 7% in Friday afternoon trading.
The shares, representing roughly 8.43% of the company's enlarged issued share capital, will be placed with at least six investors at HK$0.31 apiece.
The company plans to use proceeds to fund the R&D of AI agent-related technologies, the operation and promotion of the game products, and game R&D.
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