IDREAMSKY (01119.HK): Placing up to 187.86m Shares at HKD 0.31 for AI and Games

NewTimeSpace News: iDreamSky Technology Holdings Limited (stock code: 01119) announced on 16 October 2026 that the Board declared that after the trading session on 15 October 2026, the Company entered into a placing agreement with the placing agent, under which the Company agreed to appoint the placing agent and the placing agent agreed to act as agent of the Company to procure placees to subscribe for up to 187,856,000 placing shares at a placing price of HKD 0.31 per share on a best efforts basis.

Assuming no change in the issued share capital of the Company from the date of the announcement to completion of the placing other than the issue of the placing shares, the placing shares represent approximately 9.20% of the existing issued share capital of the Company as at the date of the announcement (excluding treasury shares) and approximately 8.43% of the enlarged issued share capital (excluding treasury shares). The placing shares will be issued under the general mandate approved at the 2025 annual general meeting and no further shareholder approval is required; the Company will apply to the Listing Committee of the Stock Exchange for approval of the listing and trading of the placing shares.

The gross proceeds from the placing will be approximately HKD 58.24 million, of which the estimated net proceeds (after deducting commission and other estimated expenses) will be approximately HKD 56.63 million. The Company intends to apply the net proceeds in full towards research and development of AI agent-related technologies, and promotion and development of its game products. Completion of the placing agreement and the transactions thereunder is subject to the satisfaction of the conditions precedent set out therein, and as the placing may or may not be completed, shareholders and potential investors should exercise caution when dealing in the securities of the Company.