Online Poker News - IPO Filed for Zynga Poker
3rd of December 2011 - latestpokerbonuses.com
Some $925 million to be raised by social gaming giant
A report arrived that the announcements about the possible IPO of giant social games developer Zynga has been true, and that based on a regulatory filing, the company plans to sell 100 million shares, or 14.3 percent of the company, at $8.50 to $10 per share.
This means that the company could raise as much as $925 million, based on the mid-point in the price range, which is not the whole billion that speculations reported, but will still be an important financial injection for the company if the IPO gets away.
The IPO, which represents one of the largest and most anticipated IPOs in the past period, would value the company, at a range of $7.7 billion to $9.04 billion, based on 904 million fully diluted shares. Also, it has been specified that the company values itself around $7.1 billion, excluding stock options and based on 699 million shares.
The founder of the five-year-old company Zynga, Mark Pincus, will reportedly hold a class of shares with 70 times more voting power than the regular stock that will be sold in the offering.
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