News

Candy Crush Saga maker aims to raise $500M in IPO

Candy Crush Saga maker aims to raise $500M in IPO

CANDY CRUSH SAGA: The maker of the game is going public. Photo: Associated Press

(Reuters) – Mobile gamemaker King Digital Entertainment Plc, best known for the hit puzzle game Candy Crush Saga, said it planned to raise up to $500 million in an initial public offering.

The Dublin-based company had filed confidentially for an IPO with the U.S. Securities and Exchange Commission in September under the Jumpstart Our Business Startups (JOBS) Act.

King offers more than 180 games in 14 languages through mobile phones, Facebook and its own website. The company says its games are played more than 1 billion times a day.

Candy Crush Saga, which involves moving candies to make a line of three in the same color, was the top downloaded free app of 2013, and the year’s top revenue-grossing app.

The basic games are free, but players need to pay for add-ons or extra lives.

Candy Crush Saga has been downloaded more than 500 million times since its launch in 2012.

JP Morgan, Credit Suisse and BofA Merrill Lynch are among the lead underwriters.

King plans to list its common stock on the New York Stock Exchange under the symbol “KING”.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Tanya Agrawal and Avik Das in Bangalore; Editing by Ted Kerr and Sriraj Kalluvila)

Recent Headlines

in Lifestyle

Fist bumps relay 90 percent less germs than handshakes

Fresh
President Barack Obama fist bumps the cashier after paying for his order at Franklin Barbecue in Austin, Texas on July 10, 2014.

Replacing handshakes with fist bumps could help cut down on the spread of bacteria and illnesses, according to a new study.

in Lifestyle

Sony looks to revive the Playstation network

Fresh
A white Sony Playstation 4 is on display at the 2014 Electronic Entertainment Expo, known as E3, in Los Angeles, California on June 11, 2014.

Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around the PlayStation.

in Lifestyle

Apple updates MacBook Pro laptops, cuts price of older model

Fresh
The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco, California on April 23, 2014.

Apple Inc said it updated its MacBook Pro line of laptops with a high-resolution Retina display, faster processors and higher memory for a starting price of $1,299.

in National

U.S. marshals, police wounded, fugitive dead in NYC gunfight

Fresh
A New York Police Officer stands guard inside a cordoned area at the site of a shooting in Greenwich Village, Manhattan, New York on July 28, 2014.

Two U.S. marshals and a New York police detective were wounded and a fugitive wanted on sex abuse charges was killed in a shootout in Greenwich Village.

in National, World

U.S says Russia violated nuclear treaty, urges immediate talks

FOR USE AS DESIRED, YEAR END PHOTOS - FILE - President Barack Obama meets with Russian President Vladimir Putin in Enniskillen, Northern Ireland, Monday, June 17, 2013. Obama and Putin discussed the ongoing conflict in Syria during their bilateral meeting.

In another sign of deteriorating relations, the U.S. government claims that Moscow has violated the Cold War treaty.