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Ziff-Davis confirms Wednesday as IPO date

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New York -- Ziff-Davis confirmed Tuesday that its initial public offering for a stock to track the performance of ZDNet, its online business, would take place on Wednesday on the New York Stock Exchange. In a new filing with the Securities and Exchange Commission, the tech publisher said it may price the 10 million shares in the $18-$19 range. That's up from an expected IPO price of $11-$13 in documents filed last week. The proceeds of the IPO are intended to pay down Ziff-Davis' debt. Ziff-Davis' stock price soared on Tuesday, climbing 22% from $23.69 per share to $29 per share.
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