Zynga Said to Sell Higher Portion of Stock in IPO Than Peers

Zynga Inc. will sell about 15 percent of its common stock in an initial public offering, said a person with knowledge of the matter, breaking with a practice among Internet companies this year of using a lower free float to boost demand.

Zynga, the biggest maker of games on Facebook Inc.’s site, plans to sell shares for $8.50 to $10 apiece in its IPO to raise as much as $1 billion, said the person, who declined to be identified because the terms are private. That would value Zynga at as high as $7 billion, less than it previously had targeted, the person said.