Zynga Prices Stock at $10, Raising $1 Billion in IPO
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.