The maker of Candy Crush, King Digital Entertainment, has filed an Initial Public Offering presumably to raise more funds from the stock market. With its daily users or gamers reaching a hundred million, the company only gets a hefty sum from content purchases, additional levels and virtual goods since Candy Crush and the other titles are free to play. This brought the company up to $22.50 per share raising roughly $500 million for its stakeholders.
As a result, the company’s total value is estimated to be $ 7 billion. But the money-raising venture through IPO is just secondary as the main reason behind the offering is to prepare the company in future acquisitions. As to what these acquisitions are, they can refer to other popular games for which King augment its line of gaming services. The price of $22.50 is believed to be the average and this will be the base price once the shares start trading in NY Stock Exchange within the week.
Investors and brokers will find a new ticker symbol KING at the exchange’s board as trading commences. The initial valuation is subject to King’s investors’ review especially that Candy Crush has been a success at a time when it is first introduced in the market.