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Zynga Sets IPO Price At $10, Plans To Raise $1 Billion
The Facebook and social game giant Zynga's long-awaited IPO will begin tomorrow morning. Today, the company announced that the stock will be offered at an initial price of $10 a share.
According to Market Watch, "The deal is worth $1 billion, based on the 100 million shares being sold in the offering, giving the company a total market value of just under $7 billion, based on total shares outstanding of 699.4 million, according to the company's filings with the Securities and Exchange Commission."
The company's ticker symbol will be listed as "ZNGA" on the NASDAQ exchange.
