How much will Candy Crush creator King be worth when it goes public this month? As much as $7.6 billion, according to initial public offering (IPO) documents filed today with the Securities & Exchange Commission. The company, which will be traded as “KING”, said today that it will price its IPO of 22.2 million shares at between $21 and $24 each.
After the IPO, King will have 314.9 million shares outstanding for a top valuation of around $7.6 billion.
You’ll be able to buy shares in King on March 26, two underwriters told Reuters today. King will sell 15.5 million shares through the offering, while stockholders will sell 6.7 million.
King could be considered a risky investment. The social game studio has a massive audience of 128 million daily active users and over 1.2 billion daily game sessions, but Candy Crush Saga makes up 93 million of those daily users and accounts for 1.085 billion of those games.
King has made headlines so far in 2014 for its staunch stance on intellectual property (IP). Last month, King responded to the recent wave of criticisms lodged against the company concerning its trademark request for the word “Candy,” its opposition to The Banner Saga, and one indie developer’s claim that they stole his game. The developer of CandySwipe has since come out to deride King for trying to revoke his trademark.