Playtika eyes almost $10 billion valuation in U.S. checklist as gaming booms

(Reuters) - Playtika Protecting Corp is having a gape to raise as much as $1.67 billion in its U.S. preliminary public offering, giving it a valuation of fair about $10 billion, because it tries to revenue on ask for mobile-gaming during the continuing COVID-19 pandemic.

The Israel-based mostly fully mostly firm, owned by a Chinese language investor crew, is planning to sell 69.5 million shares priced at between $22 and $24 apiece, it said on Thursday. (bit.ly/3hRwJoJ)

The IPO will note a bumper year for listings in the US and coincides with strict lockdowns all the highest design thru the globe, which has been driving ask for video video games as of us cease dwelling to lead sure of catching the brand new coronavirus.

Several startups like benefited from the elevated investor pastime for gaming shares. Roblox Corp, a U.S. gaming web page online, has said it goals to lag public thru a straight away checklist and has raised new funding in a deal that values it at almost $30 billion.

Playtika’s pass to lag public furthermore comes as U.S.-listed Chinese language companies face tightened scrutiny and strict audit norms from U.S. regulators and a day after the Fresh York Stock Change made up our minds to delist three Chinese language telecom companies.

Reuters, citing sources, reported in June Playtika, identified for its casino-themed video games and apps for poker and solitaire, modified into hiring banks for a $1 billion IPO.

It confidentially submitted IPO paperwork with the U.S. Securities and Change Commission in October.

In 2016, a crew of Chinese language investors including Huge Network Team Co Ltd and Yunfeng Capital, a non-public equity agency based mostly by Alibaba Team’s Jack Ma, got Playtika from Caesars Interactive for $4.4 billion.

Founded in 2010, Playtika has bigger than 35 million monthly energetic customers and its video games encompass Bingo Blitz and Slotomania.

It plans to checklist on the Nasdaq below the ticker symbol “PLTK”.

Morgan Stanley, Credit Suisse, Citigroup, Goldman Sachs, UBS and BofA Securities are the lead underwriters.

Reporting by Noor Zainab Hussain in Bengaluru; Enhancing by Anil D’Silva and Arun Koyyur

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