King Digital Entertainment has priced its initial public offering at $22.50 a share, and that means it can begin trading on Wednesday morning as the stock market opens — giving us the first big gaming IPO since the rise and fall of social game publisher Zynga.
The much-awaited IPO of King could raise more than $499.5 million for the company and shareholders who are selling the stock at an estimated $7.6 billion valuation. Coming off of Facebook’s $2 billion acquisition of virtual-reality headset maker Oculus VR, the offering could put a lot of sizzle in the multibillion dollar game industry, which has had both ups and downs since Zynga went public in 2011.
GamesBeat