Candy Crush maker King set to be valued at $7.6bn

Candy Crush maker King set to be valued at $7.6bn
Aaron Lee

By Aaron Lee

March 13th 2014 at 11:58AM

Valuation would see King exceed Zynga’s opening public listing on the NYSE

Candy Crush Saga studio King is pushing to generate $530 million (£319m) in an initial public offering that would see the British game maker valued at up to $7.6 billion.

15.5m shares for in the company will be made available for between $21 and $24 a piece when King floats on the New York Stock Exchange at an unspecified date.

King filed for an IPO on the NYSE in February, initially expecting to make as much as $500 million.

The UK studio has hooked millions of consumers with its colourful match-three game, and was expected to file for an IPO sooner than it did. In December, the firm admitted it had delayed its IPO filing over “one hit wonder” fears.

Candy Crush has been a runaway success for the company, however, shrewd investors may see its failure to generate quite as much fervour with its similar roster of mobile games as a sign that the company’s long-time fortunes are uncertain.

Nonetheless, a valuation of $7.6bn would still put King ahead of Zynga’s opening IPO. The Words With Friends maker had been expected to make almost $20 billion, but only achieved $7 billion after its first day of trading in December 2011.