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Category: Money

Zynga Receives $1 Billion Worth of Public Offering

Written on December 16, 2011 by R. Depp

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With the high-end price, Zynga becomes the largest Internet IPO company in the US this 2011.

The trading for the game company will begin on Friday as it has achieved an initial public offer of $1 billion. The SanFo-based company was able to achieve such feat by selling 100 million shared at $10 apiece. Fifteen million additional shares were offered to the underwriters at a 30-day option. However, Zyga will not received proceeds from these additional shares.

Aside from being the considered the largest Internet IPO in the US since Google way back 2004, the company is now worth $7 billion. The company will trade on the Nasdaq under the symbol ZNGA.

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