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'Candy Crush' maker prices shares at $22.50 for IPO

King Digital Entertainment, the maker of "Candy Crush," priced its shares at $22.50 Tuesday after the end of U.S. trade. The gaming company says it will issue 22.2 million shares, giving the IPO (initial public offering) a value of just under $500 million.

(Read more: Life after 'Candy Crush')

King has 97 million players every day. "Candy Crush" was a top three game last year on the iPhone app.

King is scheduled to list on the New York Stock Exchange under the symbol "KING" on Wednesday. The IPO will be the exchange's biggest by a European issuer since Genesis Lease's in December 2006, according to investment platform Dealogic.

The listing will give the company a market value of around $7 billion. The share price of $22.50 was in the mid-point of the expected range of $21-$24.

(CNBC explains: IPOs)

J.P. Morgan Securities, Credit Suisse Securities and Bank of America Merrill Lynch are acting as lead book-running managers.

According to EY, global IPO activity was at its strongest level in the first three months of 2014 in three years. There was a total of 239 deals raising around $44.3 billion in the first quarter, building on the strong end to 2013.