Israeli mobile games specialist Playtika has launched its initial public offering.

According to Seeking Alpha, there are 69.5 million shares on offer at a price range between $22 and $24.

However, 21.7 million of the shares are being offered by Playtika while an existing stockholder will provide the remaining 47.8 million.

The company began its public journey back in October 2020 as it confidentially filed for an IPO.

Future plans

It is believed that Playtika will use the proceeds generated from the IPO for various corporate purposes such as expenditures, expenses, working capital and possible repayments.

Moreover, the company may use the funds for future investment or acquisition opportunities.

Most recently, in Q3 2020, the mobile games company recorded 10.9 million daily active users.