LinkedIn Corp. IPO to raise about $271 million

LinkedIn Corp. IPO to raise about $271 million

LinkedIn Corp. on Monday said it plans to sell 7.84 million shares at an estimated price range of $32 to $35 a share in its upcoming initial public offering of common stock. The IPO will raise proceeds of about $271 million. With total Class A and Class B common shares outstanding of 94.5 million, LinkedIn will carry a market capitalization of about $3.3 billion, based on an IPO price of $34.50 a share. The IPO will trade on the New York Stock Exchange under the symbol LNKD. Morgan Stanley /quotes/comstock/13*!ms/quotes/nls/ms MS +0.57% and BofA Merrill Lynch /quotes/comstock/13*!bac/quotes/nls/bac BAC +0.16% are underwriters of the offering.

source: marketwatch.com