Zoom Video Communications Inc. is raising US$1.75 billion ($2.32 billion) through a stock offering, capitalizing on enduring demand for the video-conferencing platform during the pandemic.

Zoom is selling about 5.15 million shares at US$340 apiece, representing a 4.7% discount to its last close, according to a statement on Tuesday. The offering is expected to close on or about Jan 15.

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