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iDreamSky Announces Pricing of Initial Public Offering

SHENZHEN, China, Aug. 7, 2014 (GLOBE NEWSWIRE) -- iDreamSky Technology Limited (Nasdaq:DSKY) ("iDreamSky" or the "Company"), China's largest independent mobile game publishing platform, today announced that it has priced its initial public offering of 7,700,000 American depositary shares ("ADSs") at US$15.00 per ADS, above the preliminary US$12.00 to US$14.00 price range, for a total offering size of approximately US$115.5 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents four Class A ordinary shares of the Company. The ADSs will begin trading on the NASDAQ Global Select Market today under the ticker symbol "DSKY."

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 1,155,000 additional ADSs at US$15.00 per ADS.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, and Stifel Nicolaus & Company, Incorporated are acting as joint bookrunners for the offering.

Concurrently with, and subject to, the completion of its initial public offering, the Company will close private placements with THL A19 Limited, Cheetah Mobile Inc. and LINE Corporation at an aggregate investment amount of US$26.0 million.

iDreamSky's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, 1B, New York, NY 10010, telephone: 1-800-221-1037 or email:newyork.prospectus@credit-suisse.com.

About iDreamSky Technology Limited

iDreamSky (Nasdaq:DSKY) is the largest independent mobile game publishing platform in China based on the number of active users in 2013, according to a report from Analysys International. The Company's mission is to enrich mobile users' lifestyle and deliver fun and engaging mobile games and entertainment to users. iDreamSky has redefined the role of a game publisher by redesigning and optimizing third-party games and delivering them to users through its proprietary distribution channels, which include in-game cross promotions and its self-operated iDreamSky Game Center and ww.uu.cc, and third-party channels, such as app stores and device pre-installations, as part of its broader publishing solution. Well-known international mobile game developers choose to partner with iDreamSky because of its sophisticated game publishing and operation capabilities, successful track record and market reputation.

For more information, please visit http://ir.idreamsky.com

CONTACT: For investor and media inquiries, please contact: iDreamSky Technology Limited ir@idreamsky.com Christensen In China Mr. Christian Arnell Phone: +86-10- 5900-1548 E-mail: carnell@christensenir.com In US Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: lbergkamp@ChristensenIR.comSource: iDreamSkyTechnology Limited