New York – Business-focused social network LinkedIn has increased the expected price of its planned initial public offering (IPO) by 30%, saying it will price shares at between $42 and $45 each, up from an earlier range of $32 to $35.
The new pricing means the IPO could raise upwards of $341 million and value the company at more than $4 billion, the Associated Press reported.
LinkedIn shares are expected to price tomorrow, and begin trading on Thursday.
The company said net proceeds from the offering are expected to total $191.5 million.
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