Exclusive: China-owned Playtika hires banks for US$1 billion US IPO - sources
REUTERS: Playtika Ltd, a mobile gaming company owned by a Chinese investor group, has hired investment banks to prepare for a U.S. initial public offering that could raise around US$1 billion, people familiar with the matter said on Tuesday.
Playtika has hired Morgan Stanley and other banks to underwrite the IPO and is aiming to go public either later this year or early in 2021, the sources said, cautioning that the timing, valuation and deal size are subject to market conditions. The sources requested anonymity as the matter is confidential. Playtika and Morgan Stanley declined to comment.In 2016, a group of Chinese investors including Giant Network Group Co Ltd and Yunfeng Capital, a private equity firm founded by Alibaba Group founder Jack Ma, acquired Playtika from Caesars Interactive Entertainment for US$4.4 billion.
The IPO market has seen a significant pickup following the pandemic-induced stock market downturn, as investors place bets on newly listed companies benefiting from an expected economic recovery.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China is using Huawei to drive a wedge in UK-US relationship: US senatorLONDON: China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told ...
Read more »
Yum China to bring Beyond Meat's plant-based burgers to ChinaYum China Holdings Inc said on Monday it will introduce Beyond Meat Inc's plant-based burgers at its fast-food restaurants in mainland China ...
Read more »
Yum China to bring Beyond Meat's plant-based burgers to ChinaBeyond Burgers will be introduced as a limited-time offering at select KFC, Pizza Hut and Taco Bell locations in mainland China, Yum China said in a statement. KFC will offer the burger as a three-day limited offer at five locations across the cities of Beijing, Chengdu, Hangzhou and Shanghai, Yum China
Read more »
Big in China and tiny in the US, Fast Retailing seen weathering pandemicThe coronavirus pandemic is shredding the global apparel industry, stripping hundreds of billions of dollars from sales and thrusting big names ...
Read more »
China buys US soybeans after halt to purchases ordered: SourcesCHICAGO: State-owned Chinese firms bought at least three cargoes of US soybeans on Monday (Jun 1), even as sources in China said the government ...
Read more »
Stocks make cautious gains as US-China frictions slow recovery rallySINGAPORE: Asian stocks rose on Tuesday (Jun 2) as investors' focus on the prospects of a global coronavirus recovery won out over familiar ...
Read more »