ZoomInfo to Begin Trading Thursday After IPO Priced at $21

ZoomInfo is expected to make its debut Thursday on the Nasdaq.
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ZoomInfo's initial public offering of 44.5 million shares was priced at $21 each and shares are expected to begin trading Thursday on the Nasdaq Stock Market.

ZoomInfo, the business-to-business market-information company, earlier this week raised the price range for the IPO to $19 to $20 from a range of $16 to $18 a share.

The Vancouver, Washington-based company will raise about $935 million in the offering.

The stock will trade under symbol "ZI."

JPMorgan Chase and Morgan Stanley are acting as the joint lead book-running managers for the offering. 

ZoomInfo’s offering follows that of Warner Music Group (WMG), which began trading Wednesday. In their debut, Warner Music Group shares jumped as much as 23% and closed at $30.12 a share. 

The IPO of 77 million shares of Warner Music Group was priced at $25 a share. The offering was boosted from its previous 70 million shares. The indicative price of the offering was between $23 and $26 a share.

The company didn't issue new shares in the initial public offering. Instead, two entities controlled by British billionaire Len Blavatnik are selling most of the shares. Blavatnik bought Warner Music in 2011.

The IPO raised $1.925 billion for the shareholders; it's the biggest IPO of the year so far. It valued Warner Music Group at more than $13 billion.

According to Bloomberg, the listings from ZoomInfo and Warner Music Group are part of a global surge of initial public offerings that could raise a total of more than $6 billion this week.