IDREAMSKY (01119.HK): placing of 187,856,000 shares at HK$0.31 completed, net proceeds about HK$56.63 million for AI agents and games
NewTimeSpace News: IDREAMSKY (01119.HK) announced that all conditions to the placing under the placing agreement have been fulfilled and the issue of the placing shares was completed on 27 October 2026, with an aggregate of 187,856,000 placing shares successfully placed on the terms and conditions of the placing agreement at a placing price of HK$0.31 per share. The placing shares were offered and sold to not fewer than six independent placees and, to the best knowledge of the Directors, each placee and its respective ultimate beneficial owner is an independent third party, and no placee became a substantial shareholder immediately upon completion of the placing.
According to the announcement, the gross proceeds from the placing were approximately HK$58.24 million and the estimated net proceeds, after deducting commissions and other estimated expenses payable, were approximately HK$56.63 million. The Company intends to apply the net proceeds in full to research and development of AI agent-related technologies, operation and promotion of game products, and game development. R&D of AI agent-related technologies accounts for 50% (about HK$28.31 million), comprising 15% for the Camena content productivity agent platform, 15% for the Super Player AI companion desktop product and 20% for character agents; operation and promotion of game products accounts for 40% (about HK$22.66 million), split evenly between the Gardenscapes mini-game and Noisy Castle at 20% each; and game development accounts for 10% (about HK$5.66 million) for the "search, fight, extract" gameplay module of Calabiyau, all expected to be fully utilised by 31 December 2026.
The placing shares represent approximately 9.20% of the Company's existing issued share capital (excluding treasury shares) immediately before completion of the placing and approximately 8.43% of the issued share capital (excluding treasury shares) as enlarged by the placing. Immediately after completion, the aggregate shareholding of non-public shareholders was diluted from 551,837,534 shares (27.04%) to 24.76%, while the aggregate shareholding of public shareholders rose from 72.96% to 75.24%, of which the placees hold 187,856,000 shares (8.43%) and other public shareholders hold 66.81%. As at the date of the announcement, the total number of issued shares of the Company was 2,252,261,665, including 23,390,000 treasury shares.
