759 posts and columns on IPO
Analysts were expecting real estate marketplace Trulia to set its IPO price somewhere in the $14 to $16 neighborhood, but the market must have looked favorable, because TRLA will debut at $17 on the NYSE tomorrow. The six-million-share offering (one million of that from existing investors) will bring in $102 million. In going public, Trulia follows sector leader Zillow, which hit the market last year at $20 and closed Wednesday at $45.55.
Image licensing agency Shutterstock has filed plans for an initial public offering worth up to $115 million, intending to use the proceeds for capital expenditures, working capital and maybe a little shopping.
Sources are telling CNBC and the New York Times that Nasdaq has won the prestigious hand of Facebook for the social giant’s approaching IPO, leaving the NYSE to chalk up a miss in its efforts to attract a hipper crowd of companies. Facebook will trade under the simple but elegant symbol FB.