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At $10 A Share, Zynga To Raise $1B In Friday's IPO

Shares in social gaming company Zynga will trade at $10 when the company goes public Friday morning, raising $1 billion on a $7 billion dollar valuation for the FarmVille maker.
On the eve of its IPO, social gaming company Zynga has priced its shares at $10, placing them on the high end of its target. The price (reported by Reuters) puts a valuation of approximately $7 billion dollars on the FarmVille and CityVille maker, giving the company a higher pricetag than other video game giants including Electronic Arts. The company will raise $1 billion in capital tomorrow based on the 100 million shares being offered. This makes it the largest IPO from a U.S. internet company since Google went public in 2004 and raised $1.7 billion. Zynga's targeted share prices when it filed with the SEC last month were between $8.50 and $10. The company will be listed on NASDAQ Friday under the ticker symbol "ZNGA."

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