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Zillow Prices IPO Above Range

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Zillow, Inc., which operates real estate site Zillow.com, Zillow Mortgage Marketplace, and Zillow Mobile, said late Tuesday that it has priced its initial public offering of 3.462 million shares of its Class A common stock at $20.00 per share, which is above its estimated range of $16 and $18 per share.

The shares will begin trading on Wednesday, July 20, on The Nasdaq Global Market under the ticker symbol "Z."

The underwriters have a 30-day option to purchase up to an additional 519,300 shares of Class A common stock, to cover over-allotments, if any. All of the shares of Class A common stock are being offered by Zillow.

Concurrent with the completion of the initial public offering, Zillow will complete a private placement of 274,999 shares of its Class A common stock, at $20.00 per share, to certain existing investors in Zillow.

Citi is acting as sole book-running manager for the offering. Allen & Company LLC is acting as senior co-manager and Pacific Crest Securities, ThinkEquity LLC, and First Washington Corporation are acting as co-managers.

The company filed the initial registration statement for the IPO on April 18.

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