Candy Crush Saga Maker Opts for IPO
Bangalore: King Digital Entertainment, the maker of “Candy Crush Saga”, is going public hoping the popularity of its addictive game will get good profits for itself and its shareholders, reports TOI.
“Candy Crush saga” became the most downloaded free app on iPhones and ipads, defeating Facebook, Google Maps and YouTube. The success of this game helped King to replace Zynga, the maker of “FarmVille” and “Mafia Wars” from the list of most played games on Facebook.
The company which also makes the games like “Pet Rescue Saga” and “Bubble Witch Saga” did not specify the number of shares it expects to offer in the IPO or a projected price range for the stock. The company said in the papers filed with the Securities and Exchange Commission that it expects to raise as much as $500 million in an initial public offering.
This Irish based company informed in a regulatory filing that the IPO will include all the shares from the company as well as from the stockholders. The company has planned to make use of profits from the sales for working capital and for corporate uses that includes acquisitions. But this company will not take any profits from shares given by the selling stockholders.
King Digital Entertainment will list the stock on the New York Stock Exchange under the “King” ticker symbol.