The makers of ‘Candy Crush Saga’, popularly called King, have reportedly hired banks to pursue its U.S. initial public offering, according to The Wall Street Journal.

Candy crush sage

London based company, Midasplayer International Holding Co., a.k.a. King.com, the publisher behind mobile and online games including the blockbuster ‘Candy Crush Saga’, has tapped JP Morgan Chase & Co (NYSE:JPM), Credit Suisse Group AG (VTX: CSGN) and Bank of America Corp (NYSE:BAC) to handle the IPO.

However, key details like pricing and timing of the initial public offering have not been determined.

King’s spokesman, however, confirmed that the prospects of the mobile gaming giants going public are certainly on the table. He remarked King’s success and growth presents numerous opportunities for the business to develop further.

Telis Demos and Matt Jarzemsky of The Wall Street Journal feel the proposed IPO would test the appetite for online gaming companies, after the tepid performance posted by Zynga Inc (NASDAQ:ZNGA) shares since its IPO in 2011.

Candy Crush Saga – The Most Popular Mobile Gaming Application

King boasts of over 70 million users playing the game across various platforms including mobile, overtaking Zynga Inc (NASDAQ:ZNGA)’s 52 million DAUs. King’s other titles include “Pet Rescue Saga” and “Farm Heroes Saga”.

‘Candy Crush Saga’ is one of the biggest mobile gaming sensations in recent memory. It is ranked as the top free application in Apple Inc (NASDAQ:AAPL)’s App Store in May as well as the No. 2 revenue-generating iOS app during the period, according to analytics firm Distimo. Besides, the mobile game is popular in Facebook Inc (NASDAQ:FB), with an estimated 15.4 million average daily users.

Zynga Inc (NASDAQ:ZNGA)’s shares fell over 70 percent since their debut as it struggles to translate the success of games like “FarmVille”, that was a huge hit in Facebook Inc (NASDAQ:FB) to mobile platforms.

Recently analysts at Evercore Partners reduced their price target for shares of Zynga Inc (NASDAQ:ZNGA) to $2.50, stating that the online gaming company could face a potential downside of 11.35 percent from the previous closing price of the stock.

Other Gaming Companies Also Eye IPO

Telis Demos and Matt Jarzemsky of The Wall Street Journal feel other video gaming companies are also lining up their public issues. Kabam Inc., which makes “Kingdoms of Camelot” and the movie tie-in racing game “Fast And Furious 6,” last year signaled its plans to go public by 2014.

Finnish game maker, Rovio Entertainment Ltd, boasting over $200 million revenue has also expressed its intention to pursue an IPO.

Despite Zynga Inc (NASDAQ:ZNGA)’s poor performance, some of the other stocks in the videogame field, such as Electronic Arts Inc. (NASDAQ:EA) have fared reasonably well in the recent past. The renewed interest in gaming stocks stem from the belief that consumer spending would spike with the release of Microsoft Corporation (NASDAQ:MSFT)’s Xbox One and Sony Corporation (TYO:6758)’s PlayStation 4 later this year.