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

in Local

39 Percent of Rural Illinois Without High Speed Internet Access

Fresh
ethernet

Thirty-nine percent of people in rural parts of Illinois have no access to high-speed Internet service.

in Local

Three Arrested in Pawnee on Meth Charges

Fresh
ROBERT STAHL

The Sangamon County Drug Interdiction Response Team, or DIRT, is reporting some meth arrests in Pawnee.

in Local

Reid Suggests Schumer, Not Durbin, Should Succeed Him

dickdurbin2

U.S. Sen. Dick Durbin is praising Senate Democratic Leader Harry Reid as "one of the ablest leaders of the Senate Democratic caucus in modern history.''

in Local

Kirk, Durbin Back Changes to Disaster Declaration Process

capitol

The measure has been introduced twice previously without success.

in Local

Mayoral Candidates Debate on WTAX — And Ask Each Other Questions

3-26-15 Mayoral Debate

Minimum wage, right to work zones, and other questions were posed.