"Candy Crush Saga" Maker Prices IPO
King Digital Entertainment has put a price range on the shares to be floated in its upcoming initial public offering. In a filing submitted to the Securities and Exchange Commission today the company, maker of the wildly popular title Candy Crush Saga and other games for mobile devices, said it aims to raise up to $533 million in its flotation. 22.2 million shares of the Ireland-based firm will be sold at a range of of $21 to $24 apiece.
The firm plans to list on the New York Stock Exchange under the ticker symbol KING. No date has yet been set for the IPO.
The lead underwriters of the company's flotation are JPMorgan Chase unit J.P. Morgan, Credit Suisse , and Bank of America Merrill Lynch.
Because of the popularity of Candy Crush Saga in particular, King's IPO is certain to attract investor interest. The market might be wary of such companies going public, however; since its December 2011 IPO Zynga's share price has dropped from $10 to just under $5.80 at its most recent close.
The article "Candy Crush Saga" Maker Prices IPO originally appeared on Fool.com.Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Bank of America, and owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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