King.com files for S-1 document with SEC
London-based maker of Candy Crush Saga, King. com has filed for a S-1 document with the Securities and Exchange Commission to raise about $5 billion, according to a report.
The company has confidentially filed the documents for the floatation and has not announced more details. The company did not announce the date for the offering and did not provide additional details relating to the proposed offering yet. King appointed new chief financial officer, Hope Cochran this week. The company has been successful in recent times with its Candy Crush Saga game that gained worldwide popularity.
Under the current regulations, once a company has filed paperwork with US regulators for a planned IPO it is not allowed to discuss the matter with the media. The Securities and Exchanges Commission's website states that any company can file a confidential prospectus for a public share sale if it is classified by the authorities as an `emerging growth company' and has revenues of less than $1 billion.
King, which was established in 2003, is in talks with JP Morgan, Credit Suisse, and Bank of America to lead the IPO. King reached nearly 250 million monthly active players and generated millions of dollars in revenues.