Proactive Investors - Run By Investors For Investors

iCandy Interactive seeks up to $3.5M under IPO

iCandy Interactive seeks up to $3.5M under IPO

Mobile games developer iCandy Interactive is being spun-off by Fatfish Internet Group (ASX:FFG) as a separate company on the Australian Securities Exchange.

The company is seeking to raise up to $3.5 million through an initial public offer of 17.5 million shares priced at $0.20 each with a minimum subscription of $2.5 million.

 Oversubscriptions of up to $1 million will be accepted.

Proceeds will be used to accelerate growth of the company by funding the development of its existing and new mobile games titles and technology as well as marketing activities of the group’s mobile games.   

Worldwide mobile gaming is expected to be worth US$34.2 billion in 2016, up from US$21.5 billion in 2014.

iCandy is focused on ‘localisation’ of its games to the Chinese, Japanese and South Korean markets, as these are believed to be the faster growing markets in the Asia Pacific region.

The company’s business plan is to develop and publish ‘freemium’ games for smartphones, which are free-to-download and free-to-play for players.

This game model is proven to be a successful business model employed by many global mobile game companies.

It plans to generate revenue through the following approaches:
- In-game purchases with players able to purchase virtual items or currencies which are used within the company’s games to improve character levels, speed up the game progress and/or enhance playing experience;
- Mobile advertising, which allows iCandy to advertise third-party products and services in the company’s games; and
- Game merchandise sales.

iCandy is controlled by Fatfish which holds approximately 90.7% of the undiluted issued share capital. This will be reduced to a fully diluted stake of 76.5% following completion of the IPO.

The company expects to trade as ICI on the ASX.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full . profile View Profile

Proactive Investors Australia Timeline

Related Articles

Bloomsbury Publishing
March 19 2019
Peel Hunt expects “superior returns" from the firm’s investment in digital capacity
Augmented Reality on phone
March 22 2019
The firm currently has around nine companies in its portfolio that are either direct investments or through its sub-fund, Suir Valley Ventures, in which it holds a 22% stake
pills
March 22 2019
The healthcare-focused advisory group boasts good levels of forward bookings thanks to several new business wins at the beginning of 2019

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use