The biggest online promotional service Groupon Inc is planning to raise up to $ 540 million in an initial public offering, reducing the amount previously anticipated IPO in the background of instability in the stock markets and the withdrawal of directors, reports Reuters.
Groupon expects to sell 30 million shares at $ 16 — $ 18, according to documents the company directed the regulator. Thus, attracted by the amount could reach $ 480 — $ 540 million.
The average share price range corresponds to an entire company at $ 10.8 billion.
Groupon announced an IPO in June, hoping for a high interest of investors in Internet companies. The firm would receive from investors for their securities up to $ 750 million.
Subsequently, the sources told Reuters that the company reduces the amount of accommodation.
Under pressure from investors and regulators the company twice changed the format of financial reporting, and broke up this year with two executive directors.
This is the view of some analysts raised the question of long-term viability of the business and made out Groupon to market one of the most anticipated events in recent years.
If the placement is successful, it could be followed for IPO giants such as Zynga and Facebook, otherwise they may be canceled or postponed.