Zynga Prices Stock at $10, Raising $1 Billion in IPO
Shares of the company behind such Facebook games as CityVille, FarmVille and Mafia will start trading on Friday after the largest U.S. Web IPO since Google.
NEW YORK -- Social game maker Zynga on Thursday priced its IPO at $10, the high end of the range that it had previously eyed.
The company behind such games as CityVille, FarmVille and Mafia Wars sold 100 million shares, raising $1 billion. That made the offering the biggest U.S. Internet íPO since Google raised $1.9 billion in 2004.
Zynga had previously mentioned a price range of $8.50-$10. Its stock will start trading under ticker symbol ZNGA on Friday.
Earlier in the day, shares of fashion company Michael Kors opened with a pop after pricing at $20. The stock opened at $25 and closed the day at $24.20, up 21 percent from the $20 mark.
Among expected big tech IPOs of 2012 is social network Facebook, on which Zynga games have had most of their success.