Playtika, a developer of casual social and mobile games, is reportedly planning for an IPO.
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Here’s what potential investors in the company need to know about it and the IPO.
- Reports claim that Playtika is considering a $1 billion IPO in the U.S.
- If true, that would value the company at $10 billion.
- The reports say that Playtika has hired several banks, including Morgan Stanley, for the IPO.
- While an IPO is likely on the way, it won’t be for some time.
- The reports claim that the company won’t be ready to go public until later this year or in early 2021.
- These reports come from unnamed sources.
- The company was founded in 2010 and is based out of Israel.
- However, the company is controlled by a private equity consortium led by Chinese game company Giant Interactive.
- The consortium obtained the company back in 2016 when it was being sold by Caesars Interactive Entertainment.
- Included in this consortium is private equity firm Yunfeng Capital.
- This was founded by Jack Ma, who is also the founder of Chinese e-commerce giant Alibaba (NYSE:BABA).
- Over the years, Playtika has acquired several other developers and brands.
- Among these are House of Fun, Bingo Blitz, and World Series of Poker Social.
- Its most recent acquisition was Solitaire Grand Harvest in 2019.
While it will still be quite a while before a Playtika IPO, investors interested in the opportunity will want to keep an eye on the company this year in preparation for the event.
As of this writing, William White did not hold a position in any of the aforementioned securities.
