Trademark centurions, King Digital Entertainment, makers of the portable mouth-breather detector, Candy Crush Saga, are heading to the public markets in order to cash in on their inexplicably still popular mobile game.
The London based King has announced today that they've filed a registration statement with the Securities and Exchange Commission in what is the first step toward taking their company public. The IPO is valued at $500 million, with no details being given for individual share prices.
This is the first public admission by King that an IPO is imminent, the company has been cagey for months about taking the company public. Rumors about a public offering had begun this past September when speculation about a confidential filing by King came to light. J.P. Morgan Securities LLC, Credit Suisse Securities, and BofA Merrill Lynch are all acting on behalf of King in taking the company public.
King has successfully filed their F-1 forms with the SEC and will be traded on New York Stock Exchange under the ticker symbol "KING."
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