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iCandy Interactive getting good traction with its recently released mobile game

Shares in the company traded yesterday for the first time in nearly five months.

Light a Way game cover featuring cartoon girl sitting in jungle with wand
The company develops and releases mobile games such as Light a Way

iCandy Interactive Ltd’s (ASX:ICI) recently released mobile game, Light a Way, has generated more than 800,000 unique installs to date on major app stores.

The fantasy-themed adventurer game is getting positive traction with its daily revenue rising steadily since launch.

Notably, over the recent weekend, the game charted the highest daily revenue of $13,000 per day.

This is the highest iCandy has seen within its stable of games.

A unique ASX business model

iCandy’s core business is developing and publishing mobile games and digital entertainment for a global audience.

It runs multiple game studios and is one of the leading mobile entertainment groups in Southeast Asia with over 25 million unique gamers on its network.

Top games made by iCandy include Light A Way, Crab War, Alien Path, Star Tap and Dark Dot.

Reinstatement to official quotation on the ASX

Yesterday, iCandy was reinstated to official quotation on the ASX meaning it recommenced trading for the first time since November 2017.

The company’s shares were first halted in a regular fashion during November as it revealed its intention to acquire a large game portfolio from AB1 for a consideration of $5 million.

The procedure of the share issue was in violation of the Corporations Act and required the company to remain suspended while it sorted out this administrative issue.

Company has continued to operate while suspended

As yesterday was the first opportunity shareholders had to sell their stock in nearly five months, there was downward pressure on the share price.

Shares were down 35% to 10.5 cents yesterday after originally going into halt at 16 cents on November 10, 2017.

Quick facts: iCandy Interactive Ltd

Price: 0.17 AUD

ASX:ICI
Market: ASX
Market Cap: $80.9 m
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