Citigroup – Cell Sport Maker Playtika Recordsdata for IPO With Rising Income
Playtika Holding Corp. filed for an preliminary public providing, disclosing shrinking revenue on elevated income this yr.
The Israel-based firm in its submitting Friday with the U.S. Securities and Change Fee listed the dimensions of the providing as $100 million, a placeholder that can doubtless change.
The corporate had web earnings of $16 million on income of $1.eight billion for the 9 months ended Sept. 30, in keeping with the submitting. That in contrast with web earnings of $259 million on income of $1.Four billion in income throughout the identical interval final yr.
Chinese language buyers purchased Playtika from Caesars Leisure Corp. for $4.Four billion in 2016. After the IPO, Playtika will proceed to be finally managed by the Chinese language firm Large Funding Co., which in flip is managed by Yuzhu Shi, in keeping with the submitting.
For Extra: Chinese language Group to Purchase Caesars’ Video games Unit for $4.Four Billion
The providing is being led by Morgan Stanley, Credit score Suisse Group AG, Citigroup Inc., Goldman Sachs Group Inc., UBS Group AG and Bank of America Corp. The corporate plans for its shares to commerce on the Nasdaq World Choose Market underneath the image PLTK.