Groupon Seeks $11.4 Billion Market Value in Initial Offering
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Groupon Inc., the largest online-coupon site, is seeking a valuation of $11.4 billion in its U.S. initial public offering, less than half the $25 billion it considered earlier this year after internal missteps and stock-market swings left some investors leery of the stock.
The Chicago-based company is offering 30 million shares of Class A common stock at $16 to $18 apiece, a regulatory filing today showed. At the high end of the range, Groupon would raise $540 million, compared with the $750 million it filed to raise in June. The total valuation is based on 632.8 million outstanding common shares after the offer.