Books open ahead of iDreamSky's US IPO

The Chinese mobile game publishing platform aims to tap public markets next month and has identified several anchor investors.

Books opened on Monday for iDreamSky Technology ahead of its US initial public offering, with the Chinese mobile game platform operator aiming to raise up to $124 million in August.

iDreamSky will price 7.7 million American Depository Receipts all primary between $12 and $14 a unit in a Nasdaq flotation next month under the leads of Credit Suisse and JP Morgan. The base deal size is $108 million, which will increase to $124 million if the greenshoe option is exercised, according to a term sheet.

Chinese internet group Tencent, which owns 27% of iDreamSky and is its largest shareholder, and Cayman-domiciled Cheetah Mobile are acting as concurrent...

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