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Submitted by Emilio_Estevez 746d ago | news

Zynga Underwriter J.P. Morgan Reduces Stake to Almost Zero

AllThingsD write:

"One of the major underwriters in Zynga’s public offering has reduced its stake to nearly zero, according to a document filed with the SEC today.

J.P. Morgan now owns 2.6 million shares, or less than half of a percent of the social games company. Based on today’s stock price of $2.59 a share, the shares are worth only $7 million." (Industry, Zynga)

Credit url: joystiq.com

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