iDreamSky wins the game with bigger $141.5m IPO

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By Rashmi Kumar
08 Aug 2014

Chinese mobile game distributor iDreamSky has raised $141.5m from its Nasdaq IPO, with the deal oversubscribed just hours after books opened. The strong interest from investors meant that the leads not only managed to price the IPO above the guidance offered, but they were also forced put a cap on order size.

The company sold 7.7m American depositary shares, which were offered at a guidance of $12.00-$14.00. But when bids came in fast, bookrunners Credit Suisse, JP Morgan and Stifel decided to price the deal above the range, at $15.00.

“We didn’t have enough shares to allocate,” said a ...

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