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At $10 a Share, Zynga to Raise $1B in Friday's IPO

Date: Dec 15 2011 02:55:30 Source: GAMASUTRA Views:
KeyWord: Zynga IPO, IPO, Zynga, Social Games, Facebook Games, Zynga Inital Public Offering Price, Zynga Share Pric, Initial Public Offering

Zynga IPO

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.

By Frank Cifaldi From GAMASUTRA

The price 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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