Newsbrief: iDreamSky, the Chinese company
best known for localizing Western games for the Chinese market, has floated on the Nasdaq Stock Exchange and raised more than $115 million in its first day.
As reported by China Daily, iDreamSky launched 7.7 million shares as part of its initial public offering today, priced at $15 each. Under ticker symbol DSKY, the shares closed at $15.94, up 6.3 percent on the initial price.
The company plans to use more than $80 million of this money raised to explore potential future acquisitions. iDreamSky currently has around 100 million monthly active users, across nearly 40 mobile games, including Chinese localizations of
Temple Run, Fruit Ninja and
Subway Surfers.
