King Digital Entertainment PLC, best known for Candy Crush Saga, has released more details about its upcoming IPO, setting a price range of $21 - $24 on 22 million shares (underwriters will have the option to buy an additional 3 million shares). King estimates that it earn $326 million from the IPO (using $22.5 for its estimate), and with 315 million shares outstanding the $24 maximum price would set the company’s valuation at $7.6 billion.
Unlike many companies in the mobile space, King Digital is at least profitable. The company has had positive operating cash flow for the last nine years, revenues have grown from $22 million to $602 million from the beginning of 2012 to the end of 2013,...
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