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Candy Crush maker King Digital valued at more than $7 billion in IPO

26
Mar
2014

(Reuters) – Mobile game maker King Digital Entertainment Plc said that its IPO was priced at $22.50 per share, which would value the maker of Candy Crush Saga at about $7.08 billion when it goes public on Wednesday. Kings offering of 22.2 million shares would raise about $500 million at that price, which is at the mid-point of its planned $21-$24 price range. King, founded in Sweden in 2003, will sell 15.3 million shares in the offering with the rest being offered by selling stockholders, including Apax Ventures. The offering marks the largest U.S. IPO from a booming mobile gaming industry that has been keen to emerge from the shadow of Zynga Inc, the social gaming firm that lost half its value after a 2011 IPO that valued it at $7 billion.

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