But value tumbles by 11 per cent as trading starts
King’s high-profile IPO has got off to a stumbling start.
Shares in the Candy Crush Maker went live this morning but have since fallen in value by over 11 per cent (at the time of writing), tumbling from the $22.50 price set at the start of play to below $20.
King had previously said it would set its share price at between $21 and $24 – the latter of which would value the casual games specialist at $7.6bn.
It remains to be seen whether king suffers the same sort of turbulence suffered by Zynga after its IPO in 2011. Its price fell from $14.69 to $2.12 in just eight months, although it has since recovered to $4.64, hitting $5.79 earlier this month.
This story was orignally published on our sister-site, MCV.