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Large Zynga Block Trade Is Said to Be Offered via Morgan Stanley

Bloomberg logoBloomberg 8/6/2020 Drew Singer

(Bloomberg) -- Morgan Stanley is lining up buyers for a significant stake in video game-maker Zynga Inc., people familiar with the matter said. Shares fell 1.5% in postmarket trading.

The bank is offering 33 million shares on behalf of an undisclosed holder at $9.55 to $9.70 each, the people said, a maximum 4% discount to Thursday’s closing price. The share sale is expected to price sometime before the market opens on Friday.

Shares touched an all-time intraday high of $10.69 on Thursday after Zynga’s second-quarter adjusted Ebitda beat the highest estimate on Wednesday after the market closed.

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