Home Business NewsTech News Candy Crush maker's IPO turns bitter after shares plummet

Candy Crush maker's IPO turns bitter after shares plummet

by LLB Editor
27th Mar 14 11:11 am

Candy Crush Saga maker King Digital saw its shares fall as much as 15% on its debut at the New York Stock Exchange.

The shares were trading at $19.08 each, compared to its listing price of $22.50.

Chief executive Ricardo Zacconi told CNBC yesterday: “What we want to achieve is not to find another Candy Crush. That’s not what we are here for.

“What we are here for is to build a portfolio of games. We want to build a network of players, of loyal players, who play our portfolio of games,” he added.

IPO expert at the University of Florida Jay Ritter told the BBC: “With King Digital, there is a lot of concern about its ability to keep coming up with popular games.

“The offer price was set at the middle of the filed price range, indicating that there was neither exceptionally strong nor exceptionally weak demand.”

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