King.com Ltd. is a British mobile gaming firm widely known for its hit puzzle game "Candy Crush Saga". The company confidentially filed for an initial public offering (IPO) in the US. This was according to a person familiar with the matter said on Sunday.
Online technology companies had been rushing to the stock market. This was after the much awaited debut of Twitter Inc.'s initial public offering. The IPO had been eagerly anticipated after last year's flotation of Facebook Inc.
King.com was allowed to confidentially file an initial public offering registration through a process in the United States. The said process was allowed under the Jumpstart Our Business Startups (JOBS) Act. The rule had allowed loosening of federal securities regulations as it hoped to boost capital increase which would lead to eventual job growth.
Bank of America Merrill Lynch Corp, Credit Suisse Group AG and JPMorgan Chase & Co were hired by King.com to be the book running managers of the IPO. This was according to the source that was familiar with the matter. The IPO filing had confirmed an earlier report by the Daily Telegraph.
Representatives for King.com and the banks refused to comment regarding the report.
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