LinkedIn is throwing around those dollar bills. The business networking company has said it will be offering 7.84 million shares in its initial public offering. This works out to $32-$35 each.
If punters all go for the higher share price, this could land the company up to $274 million. It is also offering 4.8 million shares, and the rest by some of its stockholders such as co-founder and chairman Reid Hoffman. The head honch is selling his shares in the IPO alongside others, shares of which are claimed to represent about 21.7 percent of voting power after the offering.
Other key stakeholders offering up their wares, sorry, shares, include Goldman Sachs, McGraw-Hill and Bain Capital Venture Integral Investors LLC.
However, the sales won’t be a surprise to many considering that in January LinkedIn filed for an IPO to raise up to $175 million.
The company expects to receive net proceeds of about $146.6 million from the shares it is offering in the IPO.