21 days ago • Posted by Jasper Lawler

AppLovin set to debut on Nasdaq in $28.6 billion IPO today

AppLovin, the mobile games company that owns hits such as a Matchington Mansion and Wordscapes, has raised $1.8bn in an initial public offering, giving it a market capitalisation of $28.6bn and making it one of the biggest public debuts of the year.

The company priced its shares at $80 ahead of its listing on the Nasdaq on Thursday, according to the regulatory filing, the midpoint of its previously set range of $75 to $85. The issue price gives it a market value many times higher than the $2bn at which KKR purchased a $400m stake three years ago.

Source: FT

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AppLovin set to debut on Nasdaq in $28.6 billion IPO today
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