Farmville creator Zynga plans $2bn float this week

30/06/2011

Social gaming firm Zynga is preparing to file for an initial public offering as early as today and hopes to raise up to $2bn, according to a news report. CNBC cites ‘people familiar with the matter’ saying Zynga has picked Morgan Stanley to lead the offering.

Zynga is the firm behind popular social games FarmVille and CityVille. Goldman Sachs is also a lead underwriter and JP Morgan, Barclays Capital and Bank of America Merrill Lynch will play a role in the IPO, the people said.

30/06/2011

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The company is expecting a valuation of between $US15bn and $US20bn,CNBC reported.

A valuation of $US20bn would be in the range of Yahoo's market value of about $US19.5bn.

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