Zynga IPO watch: The Social game developer Zynga set the IPO price at $10 per share. According to the filings submitted to the SEC, the Zynga IPO price range was expected to be $8.50-$10 per share, and the company plans to issue 100 million shares to raise capital of $1 billion.
Calculated by the Zynga IPO price of $10 per share, the company’s capitalization will be as much as $70 billion.
For the first nine months of 2011, Zynga announced revenue of $828.9 million and net income of $30.7 million. The number of the Zynga monthly active users worldwide were 227 million and the number of intraday active users was 54 million.
Michael Kors IPO
Michael Kors traded on the NYSE for the first time on Thursday, and its stock price closed at $24.2 per share in the first day trading, 21% higher than the Michael Kors IPO price of $20 per share, with a trading volume of 42.3 million. The Michael Kors stock price was 25% higher than the IPO price in the beginning session and once hit the highest level of $25.23 per share in the trading session. Read more about the Michael Kors IPO.
In the Michael Kors IPO, 47.2 million shares were offered for sale. Calculated by the opening price, the major shareholders cashed $1.18 billion. MK’s total market capitalization was $4.75 billion and the TTM price earnings ratio reached 51 multiples.