Zynga Eyes November IPO (Report)
NEW YORK - Social gaming giant Zynga, the company behind such Facebook games as CityVille, FarmVille and Mafia Wars, is planning to price its initial public offering and have its shares trading the week before Thanksgiving on November 24, Reuters reported, citing sources briefed on the plans.
It said though that the IPO plan has not been finalized and could change depending on such factors as market trends.
Fellow dotcom company Groupon, for example, hopes to price its shares in early November. That would make the online coupon firm the first major IPO since a market slump that started this summer, meaning it could become a test case for future offerings, including Zynga's. Reuters said Zynga is looking to start its IPO marketing efforts, known as the road show, soon after Groupon's stock market debut.
Zynga this summer filed for an IPO looking to raise as much as $1 billion. However, amid the summer's market turmoil, a slew of IPOs have been delayed, while others were scrapped.
Earlier this month, Zynga disclosed in a regulatory filing that it will trade on Nasdaq under ticker symbol "ZNGA."