VC-backed iDreamSky raises $115.5 mln for IPO

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Chinese mobile game publisher iDreamSky Technologies has raised $115.5 million for its IPO after pricing its 7.7 million shares at $15 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “DSKY.”

J.P. Morgan Securities, Credit Suisse Securities (USA) and Stifel Nicolaus & Company are serving as lead underwriters.

According to the company, iDream will also raise an overall total of $26 million in private placements with THL A19 Limited, Cheetah Mobile and LINE Corp. These transactions are concurrent with the completion of iDream’s IPO.

Founded in 2009, iDream is backed by Legend Capital and Redpoint Ventures. Tencent Holdings is the firm’s largest shareholder.

Photo courtesy of Tanjala Gica/Shutterstock. 

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