Tuesday, June 10, 2008

A8 Digital Music Sets IPO Pricing At HK$1.90

Shenzhen-based wireless value-added service provider A8 Digital Music set pricing for its initial public offering (IPO) at HK$1.90 on Monday. The company is issuing 91 million shares to raise approximately HK$172.9 million. Capital raised through the offering will be used for acquiring music content providers, as well as enhancing music download software A8Box and upgrading other technologies and platforms. A8 Digital Music houses over 50,000 songs from 10,000 artists on its user generated platform a8.com. The company is scheduled to begin trading in Hong Kong under the symbol "800.HK" on Thursday.

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