King Digital Entertainment made its debut on the New York Stock Exchange today, opening at $20.50 a share – down from the $22.50 it announced that the IPO would be set at.
Trading under the symbol ‘King’, shares in the maker of Candy Crush Saga is currently selling at $20.15 a share.
King is offering 15,533,334 shares and certain selling shareholders are offering 6,666,666 shares.
The problem which may be facing potential investors is that 78 per cent of revenue for King comes from ‘freemium’ app Candy Crush.
Worldwide, Candy Crush Saga is estimated to make £610,000 ($1,000,000) per day from its users, according Read full story ›
Source: The Drum
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