LinkedIn is seeking to sell shares worth $406 million, Bloomberg reports. The network website has increased its offering to $42-45 a piece, from a previous range of $32-35. The sale will give the company a market value of up to $4.3 billion.
The underwriters, Morgan Stanley, Bank of America and JPMorgan Chase, are allowed to exercise an overallotment option to buy 1.18 million additional shares. The company intends to use the proceeds to fund existing operations and to boost the business, possibly including buying other companies or technologies.
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