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DoubleDown Interactive postpones $86 million US IPO

Administration 2020.07.01

DoubleDown Interactive, a leading developer and publisher of mobile- and web-based social casino games, postponed its IPO on Wednesday. It had filed to raise $86 million by offering 5.5 million shares (100% primary) at a price range of $15.60 to $15.60. The company cut its deal size from its original plan to raise $198 million by offering 11 million ADSs (50% primary) at a price range of $17 to $19.

The Seoul, South Korea-based company was founded in 2008 and booked $281 million in revenue for the 12 months ended March 31, 2020. It had planned to list on the Nasdaq under the symbol DDI. J.P. Morgan, BofA Securities and Macquarie Capital were set to be the joint bookrunners on the deal.

The article DoubleDown Interactive postpones $86 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO)Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.