Zynga IPO start trading december 16 2011

Zynga IPO start trading december 16 2011 : Social games giant Zynga has filed new papers with the Securities and Exchange Commission, detailing plans about its upcoming initial public offering that it will price later this month. According to the new filing, and as reported by business website VentureBeat, Zynga is looking to raise between $850 million and $1 billion as part of the IPO, with a $5.9 billion to $6.99 billion valuation.

With the IPO set to be priced on December 15, and trading due to start the following day, the company has set the price range at $8.50 to $10 per share, with the plan to issue 100 million shares in total.

Zynga is set to begin trading of its IPO tomorrow (December 16), and is looking to raise between $850 million and $1 billion as part of the IPO, with a $5.9 billion to $6.99 billion valuation.

Earlier this week, analyst group Sterne Agee initiated coverage of the company with an "Underperform" rating, noting that while the potential for social games is definitely present, Zynga's growth has slowed down rapidly in recent months.

Social games company Zynga has released ForestVille, the next in the Ville management series, just ahead of its initial public offering.

The game has been released for iOS devices, and features similar town-building gameplay to that seen in other Ville titles, but with a forest and woodland animals theme. As with the likes of Farmville and CityVille, Forestville is a free-to-play title with in-app purchases available.

The game's release via the iOS platform comes as part of Zynga's move into the smartphone space. The company currently sees 94 percent of its revenue generated from its Facebook titles. For the latest updates on the stock market, visit Stock Market Today

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