Mobile gaming company Playtika Holding Corp sold shares in its U.S. initial public offering above its target range at $27 each.
Playtika had set a target price of between $22 and $24 apiece. The Israel-based company, which is owned by a Chinese investor group, had planned to sell 21.7 million shares with a further 47.8 million sold by existing investors, making the total offering 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.
In 2016, a group of Chinese investors including Giant Network Group Co Ltd and Yunfeng Capital, a private equity firm founded by Alibaba Group’s Jack Ma, acquired Playtika from Caesars Interactive for $4.4 billion.