Proactive Investors - Run By Investors For Investors

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.

View full ICI profile View Profile

iCandy Interactive Ltd Timeline

Related Articles

Data servers
November 22 2018
The company listed on the main board of the LSE in November
ROBO Global US CEO Travis Briggs
August 14 2018
Investors can buy directly into the popular ROBO ETF based on the benchmark index comprised of 87 top robotics, automation and AI companies.
Australian dollars
September 28 2018
The company is now achieving positive earnings before interest, tax, depreciation and amortisation results each month.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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