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Candy Crush maker expects to be worth more than $7 billion

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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March 12, 2014, 11:02 AM ET
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FORTUNE — King Digital Entertainment, maker of the Candy Crush Saga mobile game, today set terms for an initial public offering that could value the company at more than $7 billion.

The Dublin, Ireland-based game publisher said that it plans to offer 22.2 million shares at between $21 and $24 per share. That would put its initial market cap at around $6.6 billion on the low end, or more than $7.5 billion on the high end.

King Digital plans to list its shares on the NYSE under ticker symbol KING, with J.P. Morgan (JPM), Credit Suisse (CS) and BofA Merrill Lynch (BAC) serving as lead underwriters. It reports around $568 million in net income on $1.8 billion in revenue for 2013, compared to $7.8 million in net income on $164 million in revenue for 2012. Candy Crush was released in April 2012 for Facebook (FB), and in November 2012 for smartphones.

Shareholders include Apax Partners (48.2% pre-IPO stake) and Index Ventures (8.3%).

The company is expected to price its IPO within the next month, but is not yet formally on any published IPO calendars.

Sign up for Dan Primack’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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