Large Zynga Block Trade Is Said to Be Offered via Morgan Stanley
(Bloomberg) -- Morgan Stanley is lining up buyers for a significant stake in video game-maker Zynga Inc., people familiar with the matter said. Shares fell 1.5% in postmarket trading.
The bank is offering 33 million shares on behalf of an undisclosed holder at $9.55 to $9.70 each, the people said, a maximum 4% discount to Thursday’s closing price. The share sale is expected to price sometime before the market opens on Friday.
Shares touched an all-time intraday high of $10.69 on Thursday after Zynga’s second-quarter adjusted Ebitda beat the highest estimate on Wednesday after the market closed.
©2020 Bloomberg L.P.