Actoz Soft raises $67.6 million for global mobile games expansion

Korean developer and publisher Actoz Soft (KOSDAQ: 052790.KQ) has announced a rights issue.

This will see the company raise $67.6 million (76.285 billion KRW).

Some of the cash will be used to strength the company's ongoing mobile game strategy, both in terms of development, marketing, licensing and acquisitions.

The pay-offThe remainder of the money raised will be used by Actoz Soft's majority shareholder Shanda Games to pay off the $40 million it owns to Eyedentity.

Shanda acquired Eyedentity's 20.5 percent holding in Actoz Soft in October 2012 in a deal worth $100.3 million.

Shanda Games now owns 51 percent of Actoz Soft, which has recently found success publishing Square Enix's Million Arthur card-battling game in the Chinese market.

[source: Shanda Games IR]