The UK-based company behind the Candy Crush Saga mobile gaming phenomenon is seeking to float in New York with an equity valuation of around $5bn.
King Digital Entertainment hopes to raise up to $500m, according to filings yesterday with the Securities and Exchange Commission – about the same amount it has paid out in dividends to investors and directors over the past five months. The company filed for an initial public offering on the New York Stock Exchange, which will happen in March or April, according to one person familiar with the matter.
Apax Partners, the private equity and venture capital group, is King’s biggest shareholder with 48.2 per cent of the equity. Index Ventures has an 8.3 per cent stake. The executive team holds about a third of the company. “We believe Candy Crush Saga, our top title to date, is one of the largest interactive entertainment franchises of all time,” said King. The company’s other titles include Pet Rescue Saga, Farm Heroes Saga and Papa Pear Saga.