Migme Secured AU$7 Million by Releasing New Stocks in ASX

Migme, previously Mig33, announced AU$7 million additional capital they’ve just sealed by releasing 10,447,761 pieces of “ordinary fully paid” shares, which worth AUD 0,67 each, at the Australian Stock Market (ASX). The funding is claimed to be allocated to strengthen the company’s position in developing countries’ market.

As being informed in its press release, the release of shares was collectively handled by BBY Limited and Patersons Securities Limited, and dedicated for institutions and professional investors. It would also be backed up by the majority of stock holders.

The fund resulted from the process will be allocated to expand Migme’s services as well as strengthen its position as one of companies that focus their services in developing countries. The release is planned to be finlized by this coming April 19.

In order to promote its capabilities as a social entertainment mobile platform, Mige often establishes partnership, including the ones with Smartfren, Universal Music Indonesia, Sony Music Indonesia, Warner Music Indonesia, E Motion Entertainment, GP Records, and Doku. A couple of times ago, the company also invested its money at Singaporean MatchMe Pte Ltd.