Zynga (ZNGA) Continues Higher Following Yelp's Expected IPO Pricing
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Zynga Inc. (Nasdaq: ZNGA) is marching higher Friday heading into the long holiday weekend. Shares could be moving on news out of Yelp (NYSE: YELP) Thursday.
Yelp, the peer reviewed business recommendation site, filed an amended IPO registration with the U.S. SEC. In the filing, Yelp said it plans to sell 7.15 million shares and sees an offering price of $12 to $14 per share, putting the total expected IPO price at $85.8 million to $100.1 million. This is in-line with its original filing, expecting a price of about $100 million.
With the addition of 1.0725 million shares for underwriters, total value of the IPO is about $115.12 million. If shares price at the top end of the IPO range, this would suggest a market valuation of ~$840 million.
Yelp's IPO is expected debut in early March.
This could be seen as a positive for Zynga, which issued its first quarterly report since going public in December this week. As more and more Internet companies go public with solid numbers, the idea of a bubble begins to burst.
Zynga is 5.7 percent better heading into afternoon trading.
Yelp, the peer reviewed business recommendation site, filed an amended IPO registration with the U.S. SEC. In the filing, Yelp said it plans to sell 7.15 million shares and sees an offering price of $12 to $14 per share, putting the total expected IPO price at $85.8 million to $100.1 million. This is in-line with its original filing, expecting a price of about $100 million.
With the addition of 1.0725 million shares for underwriters, total value of the IPO is about $115.12 million. If shares price at the top end of the IPO range, this would suggest a market valuation of ~$840 million.
Yelp's IPO is expected debut in early March.
This could be seen as a positive for Zynga, which issued its first quarterly report since going public in December this week. As more and more Internet companies go public with solid numbers, the idea of a bubble begins to burst.
Zynga is 5.7 percent better heading into afternoon trading.
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