Candy Crush maker's shares down 15% in IPO debut on Wall Street

Thursday 27 March 2014 07.14
King Digital raised $500m from the sale of 22.2 million shares
King Digital raised $500m from the sale of 22.2 million shares

King Entertainment's shares price fell over 15% on its first day on the New York stock exchange yesterday.

This makes the Candy Crush game maker the biggest new US listing to drop so spectacularly on its opening day in 20 years. 

The company raised $500m and according to data from Dealogic, King's opening drop was the biggest first-day fall for any company raising more than $500m since its records began in 1995. 

Having been priced at $22.50, the shares closed down 15.6% at $19 last night. 

King's flagship game Candy Crush was the most downloaded free app of 2013 but there have been concerns it relies too heavily on the game and doubts over whether it will be able to sustain its popularity and growth over time. 

The firm's portfolio includes more than 180 games, but only a few have been popular with users.