Zoom raises $ 1.75 billion

D.he video conferencing service Zoom has raised fresh money through a stock offering. 5.15 million shares at $ 340 each were placed in the course of a capital increase, bringing in $ 1.75 billion. Zoom announced this on Wednesday night in San Jose. The issue price was just under 5 percent below the closing price on Tuesday. In the next 30 days, Zoom can buy another 735,000 shares if the syndicate bank uses this option.

But the timing was not particularly good for Zoom: When the plans were announced, the price was around 40 percent below the high in mid-October. Despite the losses since the record high, the share price rose by almost 400 percent in the past twelve months. The company was last valued at around $ 100 billion, ten times higher than when it went public in spring 2019.

– (-)

To the detailed view

The Zoom paper is one of the beneficiaries of the Corona crisis on the financial market. Zoom has experienced unprecedented growth in the Corona crisis. The service, originally intended for use in companies, is also widely used by consumers and educational institutions, for example for private communication and courses.

Related Articles

Back to top button