News

Candy Crush Saga maker aims to raise $500M in IPO

Candy Crush Saga maker aims to raise $500M in IPO

CANDY CRUSH SAGA: The maker of the game is going public. Photo: Associated Press

(Reuters) – Mobile gamemaker King Digital Entertainment Plc, best known for the hit puzzle game Candy Crush Saga, said it planned to raise up to $500 million in an initial public offering.

The Dublin-based company had filed confidentially for an IPO with the U.S. Securities and Exchange Commission in September under the Jumpstart Our Business Startups (JOBS) Act.

King offers more than 180 games in 14 languages through mobile phones, Facebook and its own website. The company says its games are played more than 1 billion times a day.

Candy Crush Saga, which involves moving candies to make a line of three in the same color, was the top downloaded free app of 2013, and the year’s top revenue-grossing app.

The basic games are free, but players need to pay for add-ons or extra lives.

Candy Crush Saga has been downloaded more than 500 million times since its launch in 2012.

JP Morgan, Credit Suisse and BofA Merrill Lynch are among the lead underwriters.

King plans to list its common stock on the New York Stock Exchange under the symbol “KING”.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Tanya Agrawal and Avik Das in Bangalore; Editing by Ted Kerr and Sriraj Kalluvila)

Recent Headlines

39 mins ago in Entertainment

Charlize Theron gearing up for ‘Fast 8’

Fresh
charlizetheron

The "Mad Max: Fury Road" star is in early talks to play the villain in the eighth installment of the hugely successful street racing series.

44 mins ago in Entertainment

‘Deadpool’ isn’t even out yet – but a sequel is in the works

Fresh
18-overlay-6

Ryan Reynolds suits up as the homicidal mercenary, aka Wade Wilson, in the adaptation of the Marvel comic book series, which opens Friday.

53 mins ago in Music

Slipknot star talks racism in metal

Fresh
coreytaylor

Slipknot frontman Corey Taylor concedes racism is a “big problem” within the metal community, following rocker Phil Anselmo’s recent Nazi…

1 hour ago in Entertainment

Move over Whopper, the King is adding hot dogs to its menu

Fresh
22-overlay-7

The world's most famous "dog" is helping the fast food chain promote its latest offering.

1 hour ago in Trending, Viral Videos

TODAY’S MUST SEE: Russian egg roulette with Peyton Manning & Magic Johnson

Fresh
16-overlay-12

It's the Super Bowl 50 champ versus the NBA legend.