• Lemon Sky Studios, a leading game and animation studio, to be listed on NYSE American
• Proposed IPO to raise US$15m in new capital, with iCandy retaining significant stake
• Potential return of value to iCandy shareholders via dividend-in-specie

iCandy Interactive Ltd has announced plans to list its wholly-owned game and animation studio, Lemon Sky Studios, on the NYSE American exchange. The proposed IPO of the new entity, Lemon Sky Nexus Inc., is targeting to raise US$15 million in new capital. iCandy will retain a significant stake in the US-listed company post-IPO. The listing on the NYSE American, which specializes in high-growth smaller cap companies, is intended to provide Lemon Sky access to deeper US capital markets and increased liquidity. It is also proposed that a portion of the shares in the US-listed entity may be distributed to iCandy shareholders directly, potentially via a return of capital and/or dividend-in-specie, subject to final structuring and approvals. Lemon Sky Studios is a leading game and animation production studio with a 19-year track record, over 250 full-time professionals, and experience working on more than 200 AAA global games and animation projects. The company has a diverse, multinational talent pool and end-to-end capabilities across the production value chain. The announcement also provided an update on the status of iCandy's blockchain initiative, ZKCandy, noting that the team will continue to leverage its expertise in this area to build applications within the AI Agentic space amid broader blockchain industry headwinds.

The company notes that early 2026 is showing signs of recovery for the animation industry, with Lemon Sky Studios currently extremely busy. The proposed IPO of Lemon Sky Studios aims to unlock value for iCandy shareholders and provide the subsidiary access to US capital markets to support its growth.