Playtika prices $1.88 billion IPO above target range

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Date: 19.01.2021

Since 2010, Playtika has been a pioneer in the games industry. They were among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Playtika were also one of the originators of live game operations, offering users personalized, daily game experiences with new events and exciting new features 365 days a year.

Mobile gaming company Playtika Holding Corp had sold shares in its U.S. initial public offering above its target range at $27 each, the latest in a string of highly priced IPOs.

Playtika had set a target price of between $22 and $24 apiece. The Israel-based company, which is owned by a Chinese investor group, sold around 18.5 million shares, compared to an original plan of 21.7 million shares, and a further 50.98 million shares by existing investors, up from 47.8 million originally. The total offering was worth around $1.88 billion at $27 per share.

The IPO, the biggest U.S. listing in 2021 so far, values Playtika at $11.1 billion. The IPO is the latest sign of robust investor demand for new stocks following a stellar 2020, which was the strongest IPO market in two decades, and a string of other listings this week which priced well relative to their targets.

Source: Reuters.com

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