BRIEF: CMGE raises $12 million in share placement

0302.HK

Game developer and publisher CMGE Technology Group Ltd. (0302.HK) announced it has agreed to place a total of 106 million new shares to three investors at a price of HK$0.90 per share, representing a discount of 1.1% to last Friday’s closing price. The placement will raise a total of HK$95.2 million ($12.3 million), with the new shares issued accounting for about 3.58% of the company’s enlarged share capital.

The three subscribers are Infini Capital , Chu Yat Hong and Actoz Soft Co. (052790.KQ), a South Korean-listed company owned by Shenzhen-listed Century Huatong (002602.SZ). Proceeds from the fundraising will be used to further enhance CMGE’s mobile game publishing and development business.

By Lau Chi Hang

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