Zoom share sale to raise $ 1.5 billion
Zoom said Tuesday that it plans to raise $ 1.5 billion in a secondary share sale, valuing its stock 10 times above its initial public offering price of $ 36 in 2019. The video chat company, which has boomed during the coronavirus pandemic while people stay home, is assuming a share price of $ 338. The company said the date of the offering is “subject to market and other conditions.”