Candy Crush maker King files for IPO in US

Candy Crush maker King files for IPO in US
Craig Chapple

By Craig Chapple

September 27th 2013 at 12:00PM

Public offering expected to value the London firm at $5 billion

Candy Crush developer King has filed for an initial public offering in the US worth an estimated $5 billion, according to a report.

The Telegraph says the London firm has quietly submitted pre-IPO S1 documents for its flotation on the Nasdaq exchange, although no official announcement has yet been made.

On the back its enormous success with Candy Crush Saga, the company is said to have made £300 million at the start of the year from its 80 million monthly average users, and has continued to grow.

As of August, King was thought to be making more than £400,000 a day from Candy Crush Saga on Facebook alone.

The news comes after The Wall Street Journal reported in June that King was gearing up for a flotation, and had approached a number of banks including J.P. Morgan Chase & Co and Credit Suisse Group AG to handle the IPO.

At the time a spokesperson said King was examining all options available for further growth, but did not confirm whether it intended to go public.

"King's success and growth presents numerous opportunities for the business to develop further, and one option would be to take the company public,” read a statement.

“However, while it's an option for the future, we would not comment on when we could consider making such a decision."