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Zynga Delaying Its IPO

August 29, 2011

 

The New York Post reported on Sunday that online game maker Zynga may delay plans for an initial public offering until November.

The report said the company hoped its shares would be listed as soon as possible but is “no longer in a rush because of the rocky stock markets.”

The newspaper reported that one source close to the company said its public debut could be delayed until November, but the company will know more after Labor Day.

Zynga pushed ahead with filing papers with the Securities and Exchange Commission in June to help raise up to $1 billion.  The New York Post reported that its source was hoping for an IPO in early September.

The company is restricted from making public comments ahead of its public offering by SEC regulations.

Zynga is the creator behind social network games like FarmVille, CityVille and Empires & Allies.

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Source: RedOrbit Staff & Wire Reports



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