iDreamSky prices US IPO at top

Strong institutional demand allowed the Chinese mobile game platform operator to raise $158.8 million and increase the share price from the initial range.

iDreamSky prices US IPO at top

iDreamSky Technology has secured $158.8 million from its Nasdaq initial public offering after selling 7.7 million American depository receipts at $15 each, comfortably surpassing the original amount it sought to raise.

The Chinese mobile game platform operator initially aimed to price its shares at $12 to $14 and raise $124 million after the greenshoe, but strong demand from global institutional investors allowed the issuer and syndicate to boost the share price.

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