Zynga Plans Share Sale during ‘Lock-up’
Wednesday, March 14, 2012 10:57
The web and mobile games developer–Zynga, is looking to sell more shares well before a “lock-up” period for new investors expires, in order to head off a sharp drop in its share price and avoid the fate of LinkedIn. The offering of $400m worth of shares proceeds going to investors rather than to the company itself. According to people familiar with the case, it is indicated that the offering might come next week. According to the analysts, it is said that the offering is also designed to take advantage of investor interest leading into the Facebook offering expected this spring. Zynga is one of the primary revenue sources of Facebook, as the users pay for credits to play games such as FarmVille via the social networking platform.
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