iDreamSky is a well-known company specialized in localizing games for the Chinese market and one of the largest mobile game platforms that went public on the Nasdaq Stock Exchange, succeeding to get to $115 million in the first day.
According to China Daily, the company offered 7.7 million shares priced at $15 each, as part of the first initial public. Available under the “DSKY” symbol, the shares started at $15, reached a high of $19.05 in the morning and closed at $15.94, up 6.3 percent on the first pricing.
It seems that iDreamSKy is planning on using more than $80 million of this amount to invest in future acquisitions, but no details were given. Founded in 2009, the company has nearly 100 million monthly active users and around 40 games in portfolio.