- iCandy Interactive (ICI) enters trading halt as plans an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise but says it is for a capital raise
- Company shares will be paused until Monday, November 22, or when more information is released to the market
- On the market, iCandy last traded at 13.5 cents per share
iCandy Interactive (ICI) has entered into a trading halt as it plans an upcoming capital raise.
There are no details on how much the company is raising however iCandy has given a hint it involves a “major acquisition”.
Under the halt, company shares will be paused until Monday, November 22, or when more information is released to the market.
iCandy is an Australia-based company that develops and publishes mobile games and digital entertainment for a global audience.
Last month, the company released its third-quarter report, in a quarter that was focused on business growth and opportunities.
For the quarter, the company has a positive cash flow from operations at 242,000, which is higher than a deficit of $331,000 in the previous quarter.
With a strong cash balance, iCandy is well placed to continue with its development pipeline whilst at the same time looking for value-adding acquisitions or partnership.
On the market, iCandy last traded at 13.5 cents per share.