Friday, 14 October 2011

Zynga’s Shares To Be Listed On NASDAQ, Chooses ‘ZNGA’ As Stock Symbol

Social gaming company Zynga has decided to list its shares on the Nasdaq stock exchange under the ticker symbol “ZNGA” when it holds its IPO. The decision was revealed in an updated filing with the U.S. Securities and Exchange Commission.
In the filing, Zynga says, “We intend to apply to have our common stock approved for listing on the NASDAQ Global Select Market under the symbol ‘ZNGA.’” Renren and LinkedIn, both of which held their IPOs this year, were listed on the New York Stock Exchange, but tech companies are often more likely to be listed on Nasdaq.

Zynga’s suite of social games have attracted hundreds of millions of players — the company has 232 million monthly active users, with 60 million people playing its games every day. On Tuesday, the company revealed details of several upcoming games, including “CastleVille,” while it launched “Mafia Wars 2” on Monday.
Zynga filed for its IPO in July, where it claimed that it was looking to raise $1 billion. The company has reorganized its stock structure to give CEO Mark Pincus more voting power per share, but the IPO was delayed following market turmoil. There is now a 75 percent chance of the IPO taking place.


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