Pandora prices IPO well above indicated range

News Broadband United States 15 JUN 2011
Pandora prices IPO well above indicated range
Internet radio provider Pandora Media announced the pricing of its initial public offering of shares at USD 16 per share. The price is higher than the already raised price range of USD 10-12 per share. A total of 6.0 million shares are being offered by Pandora and 8.7 million shares by selling stockholders. In addition, Pandora has granted the underwriters a 30-day option to purchase up to 2.2 million more shares to cover over-allotments, if any. The shares will start trading on the New York Stock Exchange on 15 June.

Categories:

Internet

Companies:

Pandora

Countries:

United States

Tags:

Digital Music, Financial funding

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