Candy Crush maker King Digital Entertainment sets terms for $500 million IPO

By Renaissance Capital,

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King Digital Entertainment, the largest game developer on Facebook , announced terms for its IPO on Wednesday. The Dublin, Ireland-based company plans to raise $500 million by offering 22.2 million shares (30% insider) at a price range of $21 to $24. At the midpoint of the proposed range, King Digital Entertainment would command a fully diluted market value of $7.4 billion. We have previously reported on key comparisons between King and Zynga.

King, which was founded in 2002 and booked $1.9 billion in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol KING. The company initially filed confidentially on July 16, 2013. J.P. Morgan, Credit Suisse, BofA Merrill Lynch, Barclays, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: KING

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