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At $10 A Share, Zynga To Raise $1B In Friday's IPO

At $10 A Share, Zynga To Raise $1B In Friday's IPO

December 15, 2011 | By Frank Cifaldi




On the eve of its IPO, social gaming company Zynga has priced its shares at $10, placing them on the high end of its target.

The price (reported by Reuters) puts a valuation of approximately $7 billion dollars on the FarmVille and CityVille maker, giving the company a higher pricetag than other video game giants including Electronic Arts.

The company will raise $1 billion in capital tomorrow based on the 100 million shares being offered. This makes it the largest IPO from a U.S. internet company since Google went public in 2004 and raised $1.7 billion.

Zynga's targeted share prices when it filed with the SEC last month were between $8.50 and $10.

The company will be listed on NASDAQ Friday under the ticker symbol "ZNGA."


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