As Groupon is preparing to file for an initial public offering, the company priced their shares at $20 per share, which is several dollars above the expected price range of $16 to $18. Groupon is expected to raise about $700 million from the I.P.O., which will put them at a valuation of close to $13 billion.
Groupon’s price per share is upward of 10 times oversubscribed, which means that there was a lot of demand for their stock. Groupon has added five million more shares to their offering which totals 35 million shares sold.
Even though Groupon has faced a lot of criticism over issues such as accounting practices, that did not seem to both investors. Groupon is expected to go public today under the GRPN ticker on the NASDAQ.