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Zoom mulls $1.5 billion share sale at 10 times above its IPO price
The company plans to sell 4.4 million new shares at $337.71 a piece January 13, 2021 / 09:33 AM IST
Video Conferencing major Zoom on January 12 said it plans to raise $1.5 billion in a secondary share sale.
The company plans to sell 4.4 million new shares at $337.71 a piece, valuing the stock more than 10 times its debut price of $36 less than two years ago.
The company came into the limelight in 2020 when most companies were forced into remote working following the onset of COVID-19. Since becoming a household name last year, the stock has quintupled in value.