Candy Crush Game Maker King Prices IPO At $22.50
Mobile game company King Digital Entertainment, which will begin trading Wednesday, has priced its initial public offering at $22.50 per share, according to a filing with the U.S. Securities and Exchange Commission.
The company expects to raise about $326 million by selling 15.5 million shares, with investors selling another 6.7 million. The pricing values the company at $7.1 billion.
The 12-year-old game company turned a $567.6 million profit last year, according to a regulatory filing. While King has more than 180 games under its belt, its recent rise in fame and fortune is largely due to the success of its mobile and social game Candy Crush Saga, which claims more than 97 million daily players and more than 1 billion daily game plays. Its second-most-popular game, Pet Rescue Saga, has 15 million daily users and 129 million daily game plays.
The company will trade on the New York Stock Exchange under the ticker symbol “KING.”