NEW YORK - professional networking site LinkedIn Corp. wants to sell his shares for $ 32 to $ 35 per share in a public offer to come. Its introduction on the stock market may encourage other growing Internet services to make their debut in the stock market in the next year.
The target price, defined in a filing Monday with the Securities and Exchange Commission, signals that LinkedIn is almost ready to complete his introduction on the stock exchange. The actions are intended to be sold on 18 may, analyst Scott Sweet SOP. Then, the stock will begin trading under the symbol "lnkd" at the New York Stock Exchange.
Beginnings of the company could offer an overview of the demand of investors for other popular online services that connect people with common interests. Although they do not establish a plan, Facebook, Twitter, Groupon online transaction site and game maker Zynga are among the other social networking services should apply to the public.
With more than 500 million users, Facebook is regarded as the hottest of all merchandise. Market value of the company for 7 years has been set at $ 50 billion, based on a private investment in January.
The company said that the offer could raise up to 274 million dollars, including money that would go to existing shareholders who sell part of their shareholdings in the introduction on the stock exchange. Based on the objectives of price of industrial property offices, LinkedIn would have a market value of $ 3.3 billion to $ 3 billion.
Former PayPal Executive Reid Hoffman founded LinkedIn eight years ago. Venture capitalist, Hoffman remains now LinkedIn Chairman and majority shareholder with a projected game post-IPO $ 600 million to $ 665 million.
LinkedIn providing stock is expected to attract much attention because it revolves around a well known brand of the Internet with more than 100 million registered members.
Most of the revenue of LinkedIn come fresh it costs for recruiters and companies who want enlargement of access to the site Web of LinkedIn to fill vacancies. The company also sells online ads.
Last year, LinkedIn had net income of $ 3.4 million on revenues of $ 243 million. Its revenue reached $ 94 million for the first three months of this year, more than double the same period last year.
LinkedIn will provide 4.8 million shares. Current shareholders of the company, including Hoffman, Bain Capital, Goldman Sachs and publishing company McGraw-Hill, sold 3 million shares.
The company, which is based in Mountain View, California, said there is 94.5 million outstanding common shares after the stock market.
After the payment of the fees from banking services, investment and other expenditures, LinkedIn estimated that it will collect $ 147 million for the introduction on the stock exchange at a price of $33.50 midrange target. LinkedIn plans to use money for operations and possibly to buy other companies.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan manage the offer.
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