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Candy Crush maker King Digital raises $630m in IPO

Published on Mar 26, 2014 8:03 AM
 
King Digital Entertainment, the creator of the wildly popular video game Candy Crush, priced its initial public offering at US$22.50 per share on Tuesday, raising US$500 million (S$630 million) in its Wall Street debut. -- FILE PHOTO:AFP 

NEW YORK (AFP) - King Digital Entertainment, the creator of the wildly popular video game Candy Crush, priced its initial public offering at US$22.50 per share on Tuesday, raising US$500 million (S$630 million) in its Wall Street debut.

The British game developer sold 22.2 million shares in an offering priced at the midpoint of the US$21-$24 range previously targeted.

King will begin trading on the New York Stock Exchange on Wednesday under the ticker KING with a market valuation of US$7.1 billion.

The money raised in the issue could reach US$574 million depending on market demand for an additional 3.33 million that could be issued underwriters, the company said.

 
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