For Zoom, $1.5B second IPO looms
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...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.