Fitbit looks to raise USD 358.4 mln from IPO

Tuesday 2 June 2015 | 23:09 CET | News
Fitbit, a US-based maker of connected, wearable fitness devices, expects to price its initial public offering at USD 14-16 per, the New York Times reported, citing a filing with the Securities and Exchange Commission. The company intends to sell 22.4 million shares and its existing shareholders expect to sell 7.5 million shares. At the midpoint of the price range, Fitbit would be valued at nearly USD 3.1 billion. Fitbit could raise up to USD 358.4 million from the offering, but it will not receive any proceeds from the sale of the 7.5 million shares belonging to existing investors.

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Categories: Mobile & Wireless
Countries: United States
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