LinkedIn to sell shares.(Reprint)

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Professional networking website LinkedIn plans to sell shares to investors for between $32 and $35 each in an initial public offering (IPO).

The Californian-based company says the offering could raise up to $274.4 million. LinkedIn estimates that its net proceeds, based on an IPO price of $33.50 per share, would be about $146.6 million after expenses.

LinkedIn, with 100 million members, is one of the first major social networking websites to gear up for an IPO. Its debut could pave the way for facebook, Groupon and other major internet companies to follow.

LinkedIn will offer 4.8 million shares. The company's stockholders, including founder Reid Hoffman, Bain Capital, Goldman Sachs and publishing company McGraw-Hill, plan to sell three million shares.

This article was originally published by www.7days.ae.

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