China Mobile Games and Entertainment Group Limited Announces Pricing of
Follow-on Public Offering of 3,442,000 American Depositary Shares
Hong Kong, Mar 24, 2014 - (ACN Newswire) - China Mobile Games and
Entertainment Group Limited ("CMGE" or the "Company")
(Nasdaq:CMGE), the largest publisher and a leading developer of mobile games
in China, announced on March 21, 2014 that it priced the follow-on public
offering of 3,442,000 American depositary shares ("ADSs") of the
Company at US$24.00 per ADS. Each ADS represents 14 Class A ordinary shares,
par value US$0.001 per ordinary share.
CMGE intends to use the net proceeds from this offering for general corporate
purposes, which may include investment in game development, acquisition of
games, acquisition of intellectual property, overseas expansion and working
capital. The Company's management will retain broad discretion over the
use of proceeds, and may ultimately use the proceeds for different purposes
than what is currently intended. Pending any use as described above, CMGE
plans to invest the net proceeds in short-term financial instruments or demand
Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Jefferies LLC, and
Nomura Securities International, Inc. are acting as joint bookrunners and
Brean Capital, LLC is acting as co-manager for the offering. CMGE has granted
the underwriters a 30-day option to purchase up to an additional 516,300 ADSs
in connection with the offering to cover over-allotments. There is a 90 days
lock up period post this offering for CMGE, its directors, executive officers
and principal shareholders, including VODone Limited.
A registration statement relating to these securities has been declared
effective by the U.S. Securities and Exchange Commission (the "SEC")
on March 20, 2014. This offering is being made by means of a written
prospectus forming a part of the effective registration statement. Investors
are advised to read the prospectus and other documents the Company has filed
with the SEC for more complete information about the Company and the offering.
A copy of the preliminary prospectus may be obtained by visiting the
SEC's website at www.sec.gov or by contacting: Credit Suisse Securities
(USA) LLC, Attention: Prospectus Department at Eleven Madison Avenue, New
York, New York 10010-3629 or by telephone at (800) 221-1037; Barclays Capital
Inc., Attention: Barclays Capital Inc. c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 888-603-5847;
Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022 or by telephone at 877-547-6340; or
Nomura Securities International, Inc., Attention: Equity Syndicate at
Worldwide Plaza, 309 West 49th Street, 5th floor, New York, NY 10019-7316, or
by telephone at (212) 667-9000.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy the securities, nor will there be any sale of the securities
in any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful.
CMGE is the largest publisher and a leading developer of mobile games in China
with integrated capabilities across the mobile game value chain. Its fully
integrated capabilities include the development, licensing, publishing,
distribution and operation of mobile games, primarily in China. Its social
games are mainly developed for Android and iOS-based smartphones. CMGE's
extensive distribution network includes its proprietary Game Center
application, handset pre-installations, application stores and web platforms
and mobile network operators. The offices are in Guangzhou, Shenzhen, Beijing,
Chengdu, Shanghai and Hong Kong. The Company's stock is traded on NASDAQ
under the symbol CMGE. For more corporate and product information, please
visit CMGE's website at http://www.cmge.com.
Copyright 2014 ACN Newswire. All rights reserved.
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