The maker of the wildly popular game Candy Crush Saga is looking to raise $613 million in its IPO, a filing with the SEC (Securities and Exchange Commission) reveals.
According to the filing by King, the company plans to offer 22.2 million ordinary shares in its IPO and hopes to price a share between the range of $21 to $24. In case there are over-allotments, another 3.3 million shares will also be made available.
Now going by simple arithmetic, if King manages to sell all its 22.5 million shares it has planned at the price of $24 per share, then King will raise $613 million in IPO. And going by this pricing, King can be valued at $7.6 billion.
King’s shares will be listed on the New York Stock Exchange under the symbol ‘KING.’ The company had announced to go for an IPO last month but had not announced any details about the number of shares to be offered and price per share at that time.
Even this share price in the filing is not final and company may change this according to the interest in its IPO.