Financial News

  • 19 February 2014, 9:37

Candy Crush Saga Game Maker King Goes Public

The company behind the hugely successful Candy Crush Saga game is to float on the New York Stock Exchange.

King Digital Entertainment plc is set to raise up to $500m (300m) in the flotation.

Candy Crush and other games, such as Pet Rescue Saga, have seen the firm squeeze out the once-dominant Zynga, as mobile users provide an increasing revenue stream for makers.

It is now the biggest game for users on Facebook, having ousted Zynga's Farmville.

The company says more than one billion of its games are played globally.

The firm is said to have a gross income of $850,000 (509,000) a day from players topping up their game credits.

King did not say how many shares would be sold in the initial public offering (IPO) or what the share price range would be.

It plans to list on the NYSE under the ticker KING.

The company has more than 324 million monthly unique users, and operates a website with 14 languages.

It has six game development studios in Europe, including London, along with offices in San Francisco, and Malta - where its website is domiciled.

Candy Crush was created in Sweden and the company operates main offices in Stockholm and London, where the float announcement was made.

In January it posted a blog explaining its reasons to buy the EU trademark for the word "candy" and application for the US equivalent.

It said the reason was to protect its intellectual property and thwart competitors trading on its name.

Like many IT companies operating in Europe, King has registered its headquarters in Ireland.

The firm was registered in Dublin last July. The Irish company directors were listed in January as John Hackett, 33, and 38-year-old legal manager Jacqueline O'Rourke.

An amended company memorandum and articles, and special resolution were received by the company regulator on February 18.

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