King shares fell 15.56% in early trading
King held an initial public offering, during which it raised about $500 million. 22.2 million shares were sold, the capitalization of the entire company was $7.1 billion.
King itself valued its shares at $22.5 per paper, which is the middle of the price range announced in mid-March (recall that a corridor of $21-24 was set then). After the placement, the shares immediately fell by 12%. The auction closed at $19 (a drop of 15.56%), a slight increase is expected today.
According to analysts, it is difficult to talk about unconditional success, since the placement took place in the middle of the price corridor. The company is heavily dependent on the flagship product Candy Crash Saga (two-thirds of revenue and patent trolling as a consequence), which should alarm investors.
