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KKR - KKR & Co Inc News Story

$57.68 -0.4  -0.7%

Last Trade - 06/05/21

Large Cap
Market Cap £24.02bn
Enterprise Value £65.56bn
Revenue £7.24bn
Position in Universe 388th / 6854

BUZZ-KKR-backed AppLovin tumbles amid mixed bag of IPOs

Thu 15th April, 2021 7:50pm
** AppLovin Corp  APP.O , KKR  KKR.N -backed app developer,
tumbles out of the gate on Thurs
    ** APP opens at $70, well below $80 IPO price. Stock last
down 18.2% at $65.41, after falling to $65.10
    ** IPO of 25 mln shares prices at midpoint of $75-$85 filed
range  urn:newsml:reuters.com:*:nL4N2M84AK
    ** Co offers 22.5 mln shares, while KKR sells 2.5 mln,
reducing its voting power from ~69% to ~68%
    ** APP's portfolio includes more than 200 free-to-play
mobile games, such as "Word Connect," "Slap Kings" and "Bingo
Story," which have drawn in more than 410 mln daily active users
    ** Morgan Stanley, J.P. Morgan, KKR, BofA and Citigroup
leading 18-firm underwriting group for the IPO
    ** Self driving truck maker TuSimple Holdings  TSP.O  also
broke below IPO price in its debut on Thurs  urn:newsml:reuters.com:*:nL1N2M82CL, though
managed healthcare co agilon health  AGL.N  and Karat Packaging
Inc  KRT.O  both jump  urn:newsml:reuters.com:*:nL4N2M848S  urn:newsml:reuters.com:*:nL4N2M8493

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
lance.tupper@tr.com 1-332-219-1430))
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