Record IPO for Groupon, the online discount site that debuts today on the Nasdaq. With the Sale of 35 million shares at $20 each, raising $700 million, 30% higher than expected. After the close of trading yesterday on Wall Street, in fact, Groupon set the placement price well above the range between 16 and 18 dollars per share estimated by analysts. It is about largest IPO of a US internet company since Google went public in 2004, raising $1,9 billion.
All that remains is to wait to see the performance of the stock on the day of its baptism on the Stock Exchange. Will the site be able to match LinkedIn's debut last May, when shares more than doubled in value in one sitting? Sure, Groupon got off to a good start, putting 5 million more titles on sale than expected.
The valuation of the Chicago company, which was founded just three years ago, has been pegged at about $12,7 billion (up from $11 billion previously estimated), sources close to the company told Bloomberg News. Altogether it was put on the market less than 5% of shares, lower than all other U.S. internet company IPOs since 2000.
