Pixel Media signals aggressive growth with US$3.1 million injection

Hong Kong - Pixel Interactive Media has raised an additional US$3.1 million (HK$24.2 million) via an institutional placing of about four million new ordinary shares to ramp up its offering in the online ad space.

The online ad sales network will use proceeds of the placing to fund further development in growing the company's market share in online advertising and digital marketing in the Asia Pacific region.

With the offering now worth a total of US$7.1 million (HK$55.5 million), Pixel intends to broaden its geographical footprint in emerging Asia Pacific markets, continue investments in all current markets and develop emerging digital media technologies, products and services.

"We are excited at the growth potential of online advertising and digital marketing in Asia and these funds will take Pixel to the next stage of its development, and we are looking forward to working with our new shareholders to realise Pixel's potential," Kevin Huang, CEO for Pixel said.