independent

Friday 18 April 2014

Blockbuster Candy Crush Saga to float and raise up to $500m

King Digital Entertainment will use cash to fund business and possible acquisitions

Facebook game Candy Crush Saga King.com employees  wear Facebook game Candy Crush Saga outfits in this undated handout photograph taken and released by King.com in Stockholm. With 100 million people logging on every day for a fix of its games like Candy Crush Saga, global gamemaker King is showing rivals not just how to hook players, but how to get them to pay. REUTERS/King.com/Handout via Reuters (SWEDEN - Tags: BUSINESS) NO SALES. NO ARCHIVES. FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. MANDATORY CREDIT
Facebook game Candy Crush Saga King.com employees wear Facebook game Candy Crush Saga outfits

Blockbuster mobile game Candy Crush Saga, King Digital Entertainment, will attempt to raise as much as $500m in an initial public offering.

King Digital Entertainment, which also makes the game Pet Rescue Saga, did not disclose how many shares are expected in the IPO or the projected price range.

In a regulatory filing on Tuesday, King said the IPO will include shares offered by the company as well as those offered by existing stockholders.

The Dublin-based company plans to use proceeds from the sale for working capital and other general corporate purposes, which may include acquisitions. It will not receive any proceeds from shares offered by the selling stockholders.

The company plans to list the stock on the New York Stock Exchange under the KING ticker symbol.

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