Riccardo Zaconi, CEO of mobile game developer King, has taken his company to an initial public offering (IPO) on the New York Stock Exchange. Responsible for popular game Candy Crush, King was valued at more than $7bn, with shares priced at $22.50.
Giant Chinese online retailer Alibaba is hoping to raise more than $15bn when it floats later this year. The amount would trump Facebook’s record, set in 2012. By choosing New York to go public, the company ends months of speculation and dashes the hopes of Hong Kong, the previous favourite.