NEW YORK (AP) — King Digital, the company behind the wildly
mobile game "Candy Crush Saga," is scheduled to make its debut on the
New York Stock Exchange this week.
The company could be valued as
high as $7.6 billion if its initial public offering prices at $24 per
share, the upper end of its expected range. That’s nearly twice as much
as its closest rival Zynga Inc., creator of "FarmVille."
Unlike Zynga, however, King is profitable and has less than a third of Zynga’s employee base.
The
company is offering 15.5 million shares. Existing shareholders are
offering another 6.7 million. King expects proceeds of $326 million from
the IPO.
King, based in Dublin, Ireland, generated revenue of
$1.88 billion last year. That’s more than 10 times its 2012 revenue of
$164.4 million.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — King Digital, the company behind the wildly
mobile game "Candy Crush Saga," is scheduled to make its debut on the
New York Stock Exchange this week.
The company could be valued as
high as $7.6 billion if its initial public offering prices at $24 per
share, the upper end of its expected range. That’s nearly twice as much
as its closest rival Zynga Inc., creator of "FarmVille."
Unlike Zynga, however, King is profitable and has less than a third of Zynga’s employee base.
The
company is offering 15.5 million shares. Existing shareholders are
offering another 6.7 million. King expects proceeds of $326 million from
the IPO.
King, based in Dublin, Ireland, generated revenue of
$1.88 billion last year. That’s more than 10 times its 2012 revenue of
$164.4 million.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.