India, Jan. 13 -- Zoom announced a new $1.5 billion secondary share sale, taking advantage of a share price now ten times its value in the platform's 2019 IPO.

Zoom's share prices have dropped, though, by 41% since a mid-October peak at $568.34, as investors worry how the platform will adapt to expanding free users and a vaccine.

Eric Yuan's company is planning a secondary listing of about 5.15 million shares at a share price of $340, saying it could use some of the proceeds for "acquisitions or strategic investments."

The offering, which represents a 4.7% discount on the company's last closing price, is expected to close around the end of this week.

The sale is run by JP Morgan Chase, which has a 30-day option to buy up to 735,924 ex...