{"id":526889,"date":"2021-01-19T21:12:01","date_gmt":"2021-01-19T21:12:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=526889"},"modified":"2021-01-19T21:12:01","modified_gmt":"2021-01-19T21:12:01","slug":"playtika-records-surge-in-share-price-after-raising-188-billion-in-ipo","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/playtika-records-surge-in-share-price-after-raising-188-billion-in-ipo_526889.html","title":{"rendered":"Playtika Records Surge In Share Price After Raising $1.88 billion in IPO"},"content":{"rendered":"
\"Playtika<\/a><\/div>\n

Playtika looks set to disrupt the financial market after the company’s stock literally skyrocketed after raising over $1.88 billion in their initial public offering. The Israel-based mobile game developer has become increasingly popular in recent times, boasting of more than 35 million active users and revenue of over $2 billion.<\/p>\n

The recent surge in the company’s share by as much as 34% gave the mobile game developer a valuation of about $15 billion in its first trading day after its successful IPO. The jump comes after the company’s recent initial offering where it raised $1.88 billion, with 69.5 million shares priced at $27 each.<\/p>\n

The share price surpassed Playtika’s initial targeted range of between $22 and $24. This ultimately makes the offering the largest Israeli initial public offering ever. Investment giants such as BlackRock, Caledonia, Dragoneer Investment Group, and Tiger Global Management piled up on over $600 million worth of shares in Thursday’s IPO, as Playtika’s shares trade on the Nasdaq under the ticker symbol “PLTK.”<\/p>\n

Headquartered in Herzliya, Israel, the company was founded by Robert Antokol and Uri Shahak and officially launched in 2010.  The company was among the first providers of free-to-play games on social networks and mobile platforms, a feature that made it popular among gaming enthusiasts. Playtika was subsequently acquired by Caesars Entertainment before it was eventually sold to a group of Chinese investors in 2016.<\/p>\n

The firm has grown over the years and presently employs more than 3,700 people in 19 offices across the globe, notching revenue of over $2.3 billion and adjusted EBITDA of $815 million for the 12 months ending Sept. 30.<\/p>\n

Craig Abrahams, President & CFO of Playtika, said in a statement to Business Insider that the company is “incredibly excited about going public today.”<\/p>\n

“At Playtika, we see our games differently. They aren’t just games, they’re entertainment platforms. We’re excited about our growth prospects moving forward, and extending our journey as a leading mobile games technology company<\/em>,” he continued. <\/p>\n

Playtika currently has over 35 million monthly active users across its titles, which include Slotmania, Bingo Blitz, and Board Kings.<\/p>\n

The Chinese backed mobile game expert expects to leverage the increasing prominence of mobile games to grow the brand going forward. Mobile games generated $77.2 billion in revenue during 2020, an increase of 13.3% year-over-year, according to data from Newzoo.<\/p>\n

Media Contact<\/span>
Company Name:<\/strong> Sapporo Capital Ltd.<\/a>
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> +815032050850
Address:<\/strong>M-507 Shinjuku MAYNDS Tower 2-1-1
City:<\/strong> Yoyogi
State:<\/strong> Shibuya-ku
Country:<\/strong> Japan
Website:<\/strong> https:\/\/sapporocapital.com<\/a><\/p>\n

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Playtika looks set to disrupt the financial market after the company’s stock literally skyrocketed after raising over $1.88 billion in their initial public offering. The Israel-based mobile game developer has become increasingly popular in recent times, boasting of more than … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,425,426,419,412],"tags":[],"class_list":["post-526889","post","type-post","status-publish","format-standard","hentry","category-Business","category-Finance","category-Financial-Market","category-Media-Communications","category-News-Current-Affairs"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/526889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=526889"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/526889\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=526889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=526889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=526889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}