LinkedIn More Than Doubles After IPO
May 19, 2011
Shares of LinkedIn more than doubled in their first day of trading Thursday after the company's hotly anticipated initial public offering.
- Company sold 7.84 million shares at $45 each and raised $352.8 million.
- An overallotment option for underwriters to buy an additional 1.18 million shares could raise the proceeds to $405.7 million.
- Shares trading on the New York Stock Exchange under the symbol LNKD.
- Company said it would use funds from the offering to finance existing operations and to expand.
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