IPO News Archive
LinkedIn boosts price range by 30 percent amid strong institutional demand
LinkedIn, the world's leading online professional network with more than 100 million members, boosted the price range for its upcoming IPO by 30% amid strong institutional demand. The Mountain View, CA-based company now plans to raise $341 million by offering 7.8 million shares at a price range of $42 to $45. The company had previously filed to offer 7.8 million shares at a range of $32 to $35. LinkedIn, which was founded in 2003 and booked $292 million in sales for the 12 months ended March 31, 2011, plans to list on the NYSE under the symbol LNKD. Morgan Stanley, BofA Merrill Lynch, and J.P. Morgan are the lead underwriters on the deal, which is expected to price on May 18.