LinkedIn sets $32 to $35 IPO price range

LinkedIn on Monday set more details for its upcoming initial public offering (IPO). The company is planning to offer 7.84 million shares at US$32 to US$35 each.

LinkedIn on Monday set more details for its upcoming initial public offering (IPO). The company is planning to offer 7.84 million shares at US$32 to US$35 each.

The company has more than 94.49 million shares outstanding, according to its latest filing with the Securities and Exchange Commission. LinkedIn co-founder and chairman Reid Hoffman will own 21.7 per cent of outstanding shares.

With a price range set, LinkedIn's IPO is nearing launch.

For the first quarter, LinkedIn reported a net income of US$2.08 million on revenue of US$93.9 million. In the same quarter a year ago, LinkedIn reported a net income of US$1.81 million on revenue of US$44.7 million.

For 2010, LinkedIn reported a net income of US$15.38 million on revenue of US$243.1 million.

Beyond the price terms, LinkedIn's filing and risk factors were similar to the January prospectus.

Via ZDNet US

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