Playtika aims at near $10 billion valuation in U.S. listing

(Reuters) – Playtika Holding Corp, a mobile gaming company owned by a Chinese investor group, said on Thursday it was aiming to raise as much as $1.67 billion in its initial public offering (IPO), giving it a valuation of nearly $10 billion.

Playtika, which is known for its casino-themed games and operates apps for poker and solitaire, plans to sell 69.5 million shares priced at between $22 and $24 apiece in its listing on the Nasdaq.

Playtika’s IPO will follow a bumper year for listings in the United States and at a time when cooped-up customers are helping demand for video games as they stay home to avoid catching the COVID-19 virus.

Playtika’s move to go public also comes as U.S.-listed Chinese companies face tightened scrutiny and strict audit requirements from U.S. regulators and a day after the New York Stock Exchange decided to delist three Chinese telecom companies.

Reuters, citing sources, reported in June the company was hiring banks for a $1 billion IPO.

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