Yahoo Finance Candy Crush: 'Shares Bid Values Firm At $5bn'
The British creator of the hit Candy Crush Saga game has reportedly used US rules to secretly file for a stock market flotation, valuing the firm at $5bn (£3.1bn).
King - which is based in London's Tottenham Court Road - is currently the largest developer of games on Facebook (NasdaqGS: FB - news) , having overtaken Zynga (NasdaqGS: ZNGA - news) of Farmville fame.
Like Twitter a few weeks ago , it is said by The Daily Telegraph to have used the US Jobs Act to file its intentions confidentially because it has annual sales of less than $1bn (£622m).
The firm, which produces gaming products for the mobile market, makes its income through player purchases of in-game products such as extra lives and is said to make $600,000 daily from Candy Crush Saga.
Players of the game must swap different coloured sweets around to match three of the same to pass through levels, collecting rewards along the way.
The decision to file the Initial Public Offering (IPO) on the Nasdaq stock exchange is of little surprise given the market's tech focus, but King will be mindful of Zynga's performance since its stock market debut.
Its value has sunk amid the insurgency from King and praise heaped upon the London firm by Facebook.
King has confirmed hiring Hope Cochrane - credited with the IPO of tech company Clearwire - as its chief financial officer but is yet to respond to queries from Sky News about its flotation plans.
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