LinkedIn Plans To Offer 7.84 Million Shares In Its IPO
May 09, 2011
LinkedIn Corp. said it plans to offer 7.84 million shares in its IPO, in a debut valuing the company at more than $3 billion.The site priced its IPO at between $32 and $35 a share. It has generated significant interest as one of the first social networking companies to start the process of being publicly traded. It is offering 4.8 million shares and the rest will be sold by some of its stockholders.LinkedIn had filed with U.S. regulators for an IPO to raise up to $175 million. The company expects to receive net proceeds of about $146.6 million from the shares that it is offering in the IPO, based on an assumed offer price of $33.50.