King prices IPO at $22.50; Zynga -1.8% AH

|About: King Digital Entertainment Plc (KING)|By:, SA News Editor

King Digital's (KING) IPO price is at the middle of a $21-$24 range. That suggests buyers have taken a cautious approach to the offering on account of growth concerns.

The IPO price spells a valuation of $7.1B, or just 3.6x 2013 bookings. King raised $349M by selling 15.5M shares, and is selling 6.7M on behalf of existing holders.

Shares begin trading tomorrow. Zynga (ZNGA) is lower on news of King's pricing, after moving higher in regular trading.


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