Zynga Plans $400 Million Share Sale in Secondary Offering
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Zynga Inc., the social-gaming company that held its initial public offering in December, is planning a secondary offering of $400 million, saying it will improve the distribution of its stock.
The share sale is being underwritten by Morgan Stanley and Goldman Sachs Group Inc., as well as Bank of America Merrill Lynch, Barclays Capital, Allen & Co. and JPMorgan Chase & Co., the San Francisco-based company said in a regulatory filing today. Zynga won’t receive any proceeds from the offering.