On Nasdaq

Playtika announces launch of initial public offering

Playtika Holding Corp. is a leading mobile gaming company and monetization platform with over 35 million monthly active users across a portfolio of games titles.
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Playtika Holding Corp is looking to raise as much as $1.67 billion in its U.S. initial public offering, giving it a valuation of nearly $10 billion, as it tries to cash in on demand for mobile-gaming during the ongoing COVID-19 pandemic.

The Israel-based company, owned by a Chinese investor group, is planning to sell 69.5 million shares priced at between $22 and $24 apiece, it said on Thursday.

The company has provided more details about its upcoming initial public offering (IPO) on Nasdaq. In an updated prospectus, the Herzliya based gaming firm says it plans offering shares worth about $1.6 billion at a company valuation of between $8.6 billion and $9.4 billion, with half the sum in share being offered by existing equity holders.

The offering consists of 21,700,000 shares of common stock offered by Playtika and 47,800,000 shares of common stock to be sold by an existing stockholder. Playtika will not receive any proceeds from the sale of the shares by the Selling Stockholder.

In 2016, a group of Chinese investors including Giant Network Group Co Ltd and Yunfeng Capital, a private equity firm founded by Alibaba Group’s Jack Ma, acquired Playtika from Caesars Interactive for $4.4 billion.



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