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'Candy' Crush Saga' maker King Digital plans IPO

NEW YORK (AP) -- The maker of the blockbuster mobile game “Candy Crush Saga” will attempt to raise as much as $500 million in an initial public offering.

King Digital Entertainment PLC, which also makes the game “Pet Rescue Saga,” did not disclose how many shares are expected in the IPO or the projected price range.

In a regulatory filing Tuesday, King said the IPO will include shares offered by the company as well as those offered by existing stockholders.

The Irish company plans to use proceeds from the sale for working capital and other general corporate purposes, which may include acquisitions. It won't receive any proceeds from shares offered by the selling stockholders.

The company plans to list the stock on the New York Stock Exchange under the “KING” ticker symbol.

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