Playtika to raise $1.6b on Nasdaq at $9b valuation

Business News

Playtika Holding Corp is looking to raise as much as $1.67billion in its US initial public offering, giving it a valuation of nearly $9 billion, as it tries to cash in on demand for mobile-gaming during the ongoing COVID-19 pandemic.

The Israel-based company, owned by a Chinese investor group, is planning to sell 69.5 million shares priced at between $22 and $24 apiece, it said on Thursday.

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