Candy Crush Saga maker King Digital Entertainment is expected to have an initial public offering (IPO) upwards of $7.6 billion when it goes public March 26.
Reuters reported that the Dublin-based company was expected to price its IPO between $21-24 per share, with 22.2 million shares to go around.
While King Digital offers 180 mobile and Facebook-based games, it owes the lions' share of its success - including a $580 million revenue growth from the first quarter of 2012 to the fourth quarter of 2013 - to Candy Crush Saga. The "freemium" title, in which you must line candies of the same color together in a row, has been downloaded more than 500 million times, according to Reuters. Its profitability is related in part to zealous players who shell out money for extra lives that help get them to higher stages.
The stock will trade under the symbol "KING" on the New York Stock Exchange.
Dustin J. Seibert is a freelance writer covering videogames. He's grateful that Xbox Live is working again so he can get his Titanfall on. Follow him on Twitter at @Justice2K.
Source : feeds[dot]ign[dot]com
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