King valued at $7bn after NYSE listing

Mobile games developer King, creator of the hugely successful Candy Crush Saga mobile game, has been valued at over $7 billion (€5.1 billion) after it raised $500 million by listing on the New York Stock Exchange.

The company sold 22.2 million shares priced at $22.50 each, an amount that falls at the mid-point of the range King initially set.

King said that it now plans to use the money raised for “working capital” and “other general corporate purposes, which may include acquisitions”.