Mobile gaming firm Playtika’s shares jump nearly 24% in Nasdaq debut

Adds particulars on Playtika’s IPO, feedback from CEO interview

Jan 15 (Reuters)Shares of Israel-based cellular gaming firm Playtika Holding Corp PLTK.O jumped practically 24% of their debut on the Nasdaq on Friday, valuing the corporate at practically $13.79 billion.

Shares opened at $33.4, above their upsized preliminary public providing (IPO) value of $27 per share. The corporate raised $1.88 billion within the IPO.

Playtika’s IPO is the most important U.S. itemizing this 12 months.

Demand for cellular gaming has surged for the reason that starting of the coronavirus-led lockdowns final 12 months, as individuals proceed to hunker down at house and academic establishments stay shut in most international locations to curb the unfold of the outbreak.

“We did not have to go public over the previous few years, as we have been money circulation constructive. However as began rising quicker and getting larger, we felt the time was ripe for us to go public,” stated Robert Antokol, founder and chief govt officer of Playtika.

Antokol added that Playtika is growing a variety of new video games and is planning to launch at the very least one new recreation inside the subsequent 12 months.

Playtika’s debut comes on the finish of one of many greatest and busiest weeks for brand new listings in at the very least 5 years, as corporations rush to money in on the strongest marketplace for IPOs in practically twenty years, after a pandemic-driven lull early final 12 months.

Based in 2010, the corporate has greater than 35 million month-to-month energetic customers, in keeping with its web site. Its video games embody Bingo, Blitz and Slotomania.

Playtika was acquired by Caesars Interactive Leisure in 2011. In 2016, a bunch of Chinese language traders, led by Big Community Group Co Ltd 002558.SZ, acquired Playtika from Caesars for $4.4 billion.

Morgan Stanley, Credit score Suisse, Citigroup, Goldman Sachs, UBS and BofA Securities have been the lead underwriters for the providing.

(Reporting by Sohini Podder in Bengaluru; Modifying by Amy Caren Daniel)


The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.

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