IPO News: Mobile Game Maker Playtika Goes Public
One of the leading developers of mobile games, Playtika—whose portfolio mainly consists of casino games, by the way—held one of the first IPOs this year.
Founded in 2019, Israeli company Playtika is now officially listed on NASDAQ. It owns about a dozen games included in the top 100 grossing mobile games in the US, with annual revenue of $2.3 billion and net income of $46.1 million.
As part of the IPO, investors were offered 69.5 million shares at prices ranging from $22 to $24, most of which came to the market from a pre-existing shareholder, and only 21.7 million were issued by the company itself. However, during the auction, the share price reached $27 a piece. At the moment, Playtika Holding shares are trading at $30-31.
By the way, the company filed an IPO application back in October 2020. Playtika, values at a $10 billion, originally planned to raise $1.67 billion but after the first trading sessions, the game maker managed to surpass its own forecasts. Congratulations!
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