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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