Zynga IPO values company as high as $9.04 billion

[NewsMaker]

Forum: CG News
Posted By: RobertoOrtiz
Post Time: 12-02-2011 at 11:10 PM
Text:

Quote:
"
(Reuters)- Zynga Inc is seeking a more modest valuation than Wall Street expected for its initial public offering, hoping to attract investors after a series of Internet stocks fell below their IPO price in recent weeks.

The social games maker, known for Facebook games like "FarmVille" and "Mafia Wars," plans to sell 100 million new shares between $8.50 and $10 each, which will raise $925 million based on the midpoint of the range, according to a regulatory filing on Friday.

The deal values Zynga at as much as $9.04 billion, about a third less than the $14.05 billion valuation that the company cited in a filing two weeks ago."



Zynga IPO values company as high as $9.04 billion

Source