News

Chinese games publisher iDreamSky plots Hong Kong IPO

Chinese games publisher iDreamSky plots Hong Kong IPO

Chinese mobile games publisher iDreamSky is set to go launch an initial public offering on the Hong Kong Stock Exchange.

The company could raise as much as $300 million from the flotation.

The move comes two years after the company delisted itself from the US NASDAQ in 2016, which itself occurred just two years after it originally went public.

The company launched its original IPO in 2014 and raised around $115 million. Should its relisting go as planned the $300 million figure would mark a substantial increase.

Reach for the sky

iDreamSky has published a number of games in the Chinese market including SYBO’s Subway Surfers, Imangi Studios’ Temple Run 2 and more recently Playrix’s Gardenscapes and Sviper’s Wild City Rush.

In 2017 the publisher acrrued $277 million in revenue and around a $37.5 million profit. It also had a monthly active userbase of 122.2 million in 2017, with the number of mobile paying users standing at six million.

Currently another Chinese mobile games publishing giant, Tencent, holds a 20.65 per cent stake in the company and is one of its largest shareholders.

Get the latest news, interviews and in-depth analysis on Twitter, Facebook and our daily newsletter.


Tags:
Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies
Important information

This site uses cookies to store information on your computer. By continuing to use our site, you consent to Steel Media's privacy policy.

Steel Media websites use two types of cookie: (1) those that enable the site to function and perform as required; and (2) analytical cookies which anonymously track visitors only while using the site. If you are not happy with this use of these cookies please review our Privacy Policy to learn how they can be disabled. By disabling cookies some features of the site will not work.