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Candy Crush developer raises almost $500 mn in IPO

DPA Los Angeles | Updated on March 26, 2014 Published on March 26, 2014

candy crush

King Digital Entertainment, developer of the popular smartphone game Candy Crush, announced the pricing of its initial public offering of $22.50 per share, the Company said on its website on Tuesday.

King sold more than 22.2 million shares, raising nearly 500 million from the initial offering.

The shares are expected to begin trading on Wednesday on the New York Stock Exchange under the symbol KING, according to the Company’s website.

King reported a profit of about $568 million and revenue of $1.9 billion last year.

King is known for the colourful puzzle game Candy Crash, an app that averages 97 million users daily. Other games by King are Farm Heroes Saga, PetRescue Saga, Papa Pear Saga and Bubble Witch Saga.

Published on March 26, 2014
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