According to Reuters online games maker Zynga Inc is expected to make a strong debut on the Nasdaq stock exchange on Friday after it priced its initial public offering at the top end of a preliminary range but did not increase the size of the $1 billion deal.
Analysts and investors had expected Zynga to raise the price or boost the number of shares it was selling, since demand had seemed strong in recent weeks. The IPO, from the maker of "CityVille" and "FarmVille" games, has been highly anticipated because it is seen as a way for investors to get a slice of Facebook's growth before the social network goes public itself.
Zynga sold 100 million shares of Class A common stock at $10 per share in the IPO, the top end of the $8.50 to $10 indicative range.
In addition, certain of Zynga's stockholders have granted the underwriters a 30-day option to purchase up to an additional 15 million shares to cover over-allotments, Zynga said in a statement late on Thursday. Zynga will not receive any proceeds from the sale of shares by the selling stockholders….
http://www.reuters.com/article/2011/12/16/zynga-idUSL1E7NFBOJ20111216
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