Mobile games specialist Playtika has raised $1.88 billion through its initial public offering.
Bloomberg reported that the company itself and an existing investor sold a combined 69.5 million shares at $27 apiece. However, 21.7 were sold by Playtika while 47.8 came from the stockholder.
The shares' price exceeded expectations as Playtika had aimed for a price range of $22 to $24.
Trading on the Nasdaq Global Select Market begins today under the symbol PLTK.
As previously stated, Playtika intends to use its newfound funds for a variety of corporate purposes, such as expenses, expenditures and working capital.
It is also thought that the company may look at repayments, as well as investment and acquisition opportunities.