Industry News

Playtika Prices $1.88B IPO Above Target Range

Published

4 years ago

January 18, 2021

Niji Narayan

Playtika Prices $1.88B IPO Above Target Range

Reading Time: < 1 minute

Mobile gaming company Playtika Holding Corp sold shares in its U.S. initial public offering above its target range at $27 each.

Playtika had set a target price of between $22 and $24 apiece. The Israel-based company, which is owned by a Chinese investor group, had planned to sell 21.7 million shares with a further 47.8 million sold by existing investors, making the total offering worth around $1.88 billion at $27 per share. The IPO, the biggest U.S. listing in 2021 so far, values Playtika at $11.1 billion.

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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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.