Australia's iCandy Interactive hits 9-month high on deal to buy gaming co

Icandy Interactive

19/11/2021 02:44

** Shares of mobile game developer iCandy Interactive
 ICI.AX  rise as much as 22.2% to A$0.165, their highest since
Feb. 17 
    ** Co says it will acquire Southeast Asia-based game art and
animation company Lemon Sky Studios for A$44.5 mln ($32.37
mln) urn:newsml:reuters.com:*:nFWN2S91SC
    ** Says deal will help co develop AAA games - a
classification of games which are of high visual quality - and
will add to its revenue 
    ** Stock posts its biggest intraday pct gain since Feb. 16
    ** About 29.1 mln shares change hands, compared with the
30-day average volume of 3 mln
    ** Stock up 8% this year, as of last close


($1 = 1.3748 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))