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Candy Crush developer raises almost 500 million dollars in IPO

Los Angeles - King Digital Entertainment, developer of the popular smartphone game Candy Crush, announced the pricing of its initial public offering of 22.50 dollars per share, the company said on its website Tuesday.

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

The shares are expected to begin trading 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 dollars and revenue of1.9 billion dollars 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, Pet Rescue Saga, Papa Pear Saga and Bubble Witch Saga.

DPA


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