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Zoominfo Begins Trading at $40, Nearly Double $21 IPO Price

Published 06/04/2020, 11:01 AM
Updated 06/04/2020, 12:48 PM
© Reuters.

By Liz Moyer 

Investing.com -- Zoominfo Technologies Inc (NASDAQ:ZI) debuted at $40 on Nasdaq Thursday, nearly double its $21 initial public offering price.

Shares traded up to $40.90 and settled back. Earlier Bloomberg reported that shares of the software maker were set to open at $41. Zoominfo is just the latest company to sell shares to the public in a highly anticipated week of IPOs.

Zoominfo listed under the ticker symbol ZI in an offering led by JP.Morgan, Morgan Stanley (NYSE:MS), Barclays (LON:BARC), Credit Suisse (SIX:CSGN), BofA Securities, Deutsche Bank (DE:DBKGn), RBC Capital Markets, UBS Investment Bank, and Wells Fargo (NYSE:WFC) Securities.

The Vancouver, Washington, company makes a data platform for marketing and sales. It raised $935 million selling 44.5 million shares at $21, according to Renaissance Capital. The IPO price was raised from a previous range of $16 to $18.

Latest comments

do we even know that where losing alot points , each stock
do we even know that where losing alot points , each stock
suddenly went down the stock market.
how many of people holding alot stock market???? yesterday was doing so well.
1999
Theres always a lot of new products/companies on the market right before a major crash to distract from the crisis.
Let hope so. Hopefully there will be another reentry point
That doesn't make any sense. If a company has been in business for a few years and has been spending the last two years working towards going public, how can it be said that is a distraction "from the crisis"? Going public has been in the works prior to any "crisis". Please think about the facts and don't spread rumors stating disinformation. Each of us has a personal responsibility to not propagate the misinformation and disinformation. Just because someone who has a blog or YouTube video states it does not make it fact. Otherwise, I'm a French model. 😂
I agree. However, it is hard to realize that this is an information technology bubble orchestrated by free debt for the average joe. When Zoom has a P/E ratio of over 2300 you have to wonder how these investors and analysts are coming up with these valuations...
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