'Candy Crush' Shares Slip in Market Debut

/ Source: CNBC.com
Mascots dressed as characters from the mobile video game "Candy Crush Saga" pose outside the New York Stock Exchange.
Mascots dressed as characters from the mobile video game "Candy Crush Saga" pose outside the New York Stock Exchange.BRENDAN MCDERMID / Reuters

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King Digital Entertainment officially began life as a publicly traded company on Wednesday, opening on the New York Stock Exchange below its initial pricing levels.

Mascots dressed as characters from the mobile video game "Candy Crush Saga" pose outside the New York Stock Exchange.
Mascots dressed as characters from the mobile video game "Candy Crush Saga" pose outside the New York Stock Exchange.BRENDAN MCDERMID / Reuters

The maker of the addictive mobile game "Candy Crush" priced its shares at $22.50 Tuesday after the U.S. markets closed. The gaming company issued 22.2 million shares, giving the IPO (initial public offering) an initial value of just under $500 million. Yet just hours after pricing, the stock began trading at $20.50

King has 97 million players every day. "Candy Crush" was a top three game last year on the iPhone app. The company is listed on the NYSE under the symbol "KING."

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