Games & Commerce
Line Games withdraws shareholder-allotted rights offering, citing market conditions
Line Games has withdrawn its planned shareholder-allotted rights offering, saying the decision followed a comprehensive review of internal and external market conditions. The company filed a revised disclosure on Sept. 15 to cancel the capital increase plan, halting the offering. A company official said the board resolved to withdraw the plan after close examination. The company also denied any connection to a lawsuit between Line Yahoo (LY) and Lungo Entertainment, saying the purpose was consistently to raise operating funds.
