Home >Industry >Media >‘Candy Crush’ game maker King Digital announces IPO to list on NYSE

London: King Digital Entertainment Plc, maker of the popular Candy Crush Saga puzzle game on Facebook Inc. and Apple Inc. products, said it will raise $500 million in a US share sale.

The company, owned by Apax Partners LLP, will list on the New York Stock Exchange under the symbol King, it said in a filing to the Securities and Exchange Commission on Tuesday. It didn’t specify the number or price of shares it will offer, using the $500 million as a placeholder to calculate registration fees, and the amount may change.

An initial public offering could value King at $5 billion to $7 billion, Michael Pachter, an analyst with Wedbush Securities in Los Angeles, told Bloomberg News in October. Pachter based his estimate on sales figures from company executives.

The company, part of Midasplayer.com Ltd. according to its website, made a profit of about $568 million on revenue of $1.88 billion last year, it said in the filing.

JPMorgan Chase & Co., Credit Suisse Group AG and Barclays Plc are among the banks managing the sale. Bloomberg

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