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Candy Crush IPO Disaster

on March 31 | in All, Investing, Stock Market | by | with No Comments

The Irish company King Digital Entertainment, owner of the online game Candy Crush, has raised $ 500 million (€ 362.4 million) in its Initial Public Offering, with the price of the 22.2 million shares issued – $ 22.5 per title – to be in the middle of the range initially set.

The IPO price assesses the King Digital Entertainment in 7,090 million dollars, 2.7 times the predicted value in sales in 2014 (2.62 billion dollars) . This value – substantially less than the value that similar companies now have like Giant Interactive or Zynga – may reflect, according to Bloomberg, that the market learned from the euphoria of the past. In December 2011, Zynga – creator of Farmville game – entered into the market and lost 5 % of the value on the first trading day. The following year, the stock depreciated over 80 %.

The Candy Crush represents 78 % of total revenues of the King Digital Entertainment, being played daily by 97 million people. This year, analysts expect sales to grow 39 % compared to 2013.

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