Candy Crush Saga developer King Digital Entertainment PLC filed with the Securities and Exchange Commission to take its company public a month ago, and the company has finally detailed its IPO plans for the public to read.
It is aiming sell 22.2 million shares between $21 and $24 and is estimating to cap off the company’s value at $7.6 billion once all is said and done. A successful IPO reaching its goals would make King more valuable that Zynga after it closed its IPO back in 2011, valuing at only $7 billion, a far cry short of the $20 billion that it had originally estimated.
Early estimates from last September suggested the company had the potential to max out at around $5 billion in valuation, meaning that despite the negative press of going after trademarks on the word “Candy” and interfering with indie developers Stoic, makers of The Banner Saga, King still is becoming more and more valuable with each passing day.
When filing with the SEC, King had revealed that 93 million unique players logged in to play Candy Crush Saga the month before, and 128 million daily users were using its properties. It had originally estimated making about $500 million from the IPO, a figure it has since lowered to about $326 million, which it is planning to use for acquisitions.
Last year the company made $567.59 million in profits after reaching revenues of $1.88 billion. No date has been set for the IPO yet.