King.com, the developer behind the game candy Crush Saga, is expected to go public at a price of between $21 and $24 per share. This would give the company a valuation of around $7.56 billion. Based in Sweden, King.com will sell 15.5 million shares in the offering and stockholders will sell 6.7 million shares. At the upper-end of the range, King.com will raise as much as $532.8 million.
How do you play Candy Crush Saga? You simply move candies around to make a line of three in the same color. Candy Crush Saga was the most downloaded app and the top-grossing of 2013. The game was downloaded over 500 million times.
The basic version of the game is free, but add-ons have a cost. Candy Crush Saga generates around three-quarters of King.com’s revenues even though the company has 180 games available in 14 languages.
King.com applied to list share on the New York Stock Exchange with the symbol “KING.” The lead underwriters for the offering are JP Morgan, Credit Suisse and BofA Merrill Lynch.