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4/18, 12:53 AM (Source: TeleTrader)
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Zoom IPO priced at $36 per share - report

Zoom Video Communications company, which is set to start trading on Nasdaq on Thursday under the ticker ZM, priced its public offering at $36 a share, CNBC reported.

The San Jose-based company, founded in 2011, is valued at $9.2 billion and is expected to offer some 10 million Class A shares to investors. Because of its fast-growing popularity, the original pricing range of $28 to $32 was increased. The company provides communications software that works on a wide range of devices and it reported a net income of $7.58 million for fiscal 2019.

Zoom's scheduled to start trading at the same time as social media company Pinterest.

Breaking the News / KP