King flotation plans revealed

Further details have emerged of mobile games developer King’s proposed flotation on the New York Stock Exchange.

The company, the creator of the hugely popular Candy Crush Saga mobile game, has not yet revealed the number of shares to be offered, or their price range, but its initial IPO filing with the Securities and Exchange Commission in the US has revealed that it hopes to raise $500 million (€364 million) from the flotation.

The company wants to trade on the exchange under the KING ticker.

Candy Crush generates more than three-quarters of King’s revenue, which totalled $1.88 billion last year, giving the company a profit of $568 million.

However, the Daily Telegraph newspaper said at the weekend that the IPO plans, which were initially submitted in September, had been put on hold due to a lukewarm response from investors.

King wanted to float as early as the fourth quarter of 2013, the report added.

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