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Thursday, 13 March 2014 11:53

Candy Crush King goes for IPO

Written by Nick Farrell



Before everyone gets a new fad

King, the outfit behind Candy Crush Saga, is going to have an initial public offering while the company is doing well. King, the games developer behind Candy Crush Saga, is looking to raise as much as $533m via a share sale on the New York Stock Exchange.

The firm said it is planning to sell 22.2 million shares, priced between $21 and $24 per share. But that could value the company at almost $7.6bn at the top of its pricing range which strikes many as a little steep. King's portfolio includes more than 180 games, but Candy Crush is its most popular offering and was the most downloaded free mobile app of 2013.

The popularity of Candy Crush has been the biggest driver of growth for King during the past two years and before it came up with the game it only made $64m in revenue. Needless to say there are some worries that the firm relies too heavily on Candy Crush and that if its popularity faded, the company's revenue and profits may be hit.

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