'Candy Crush Saga' maker goes public in $500M IPOMarch 25, 2014 @ 3:53 pm
NEW YORK (AP) -- The maker of the popular mobile game "Candy Crush Saga" has raised $499.5 million in an IPO that values the Irish company at about $7.1 billion.
Shares priced at $22.50 each, the middle of King Digital Entertainment PLC's expectations. The company is selling 15.3 million of the 22.2 million shares. The rest of the stock is being sold by existing shareholders.
King Digital Entertainment PLC had $1.88 billion in revenue last year. Its other top games include "Pet Rescue Saga" and "Farm Heroes Saga."
The company says it will use the proceeds for working capital and other general corporate purposes. The shares are expected begin trading Wednesday on the NYSE under the ticker symbol "KING."
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Council vs Columbus
Seattle will consider a resolution to change Columbus Day to Indigenous Peoples' Day
Whatever it Takes
Ricardo Lockette takes playing time with the Seahawks over pride
How Bellevue will handle students who transfer from 'failing' schools
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.