News: migme Limited swells cash position with oversubscribed placement

migme Limited (ASX:MIG) has attracted investor attention with a $7 million raising through a placement of 10,447,761 shares at $0.67.

Highlighting the strong investor support, the placement was originally targeting $5 million but as a result of demand oversubscriptions of in excess of $2 million were received.

migme is focussed on delivering social entertainment services through mobile apps.

Earlier in the month the company added global music service Deezer, with an initial focus on Indonesia.