Blockbuster Candy Crush Saga to float and raise up to $500m
King Digital Entertainment will use cash to fund business and possible acquisitions
Published 18/02/2014 | 13:21
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.