'Candy Crush Saga' maker goes public in $500M IPO

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 This material may not be published, broadcast, rewritten or redistributed.


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