LinkedIn listed on the New York Stock Exchange
May 20th, 2011 - 4:34 am ICT by IANSNew York, May 20 (IANS) Professional networking website LinkedIn listed an initial public offering (IPO) on the New York Stock Exchange, and surged over $90 dollars a share shortly after the opening bell Thursday, Xinhua reported.
The company priced per share at $45. During the morning trading, the company’s stock was traded at $83 per share and quickly jumped over $90 per share.
At $90 a share, LinkedIn was valued at about $8.5 billion, making the eight-year-old company one of the largest technology IPOs since Google in 2004.
The company has planned to raise around $350 million, aiming at improving its professional networking service.
It raised its IPO pricing range earlier this week to $45 dollars a share from $35 due to strong demand from investors.
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Tags: google, initial public offering, initial public offering ipo, investors, linkedin, networking service, new york stock, new york stock exchange, opening bell, professional networking, technology ipos, xinhua, york stock exchange