logo
Share SHARE
FONT-SIZE Plus   Neg

Yelp Prices IPO Of 7.15 Mln Class A Shares At $15/Share, Above Expected Range

Yelp Inc., the user-generated review website, announced the pricing of its initial public offering of 7.15 million shares of Class A common stock at $15.00 per share, above its expected range.

Out of which, 7.1 million shares are being offered by Yelp, and a total of 50,000 shares are being offered by a selling stockholder, The Yelp Foundation.

Yelp had estimated pricing IPO of 7.15 million Class A common shares within a range of $12 to $14.

The California based company shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "YELP" on March 2, 2012.

In addition, the underwriters have an option to purchase up to an additional 1.07 million shares from Yelp.

Yelp said that it will not receive any proceeds from the sale of shares by the selling stockholder.

Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering.

Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT