LinkedIn IPO prices at $45 per share | business | Hindustan Times
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LinkedIn IPO prices at $45 per share

LinkedIn sold shares at the top of an already raised price range in its initial public offering on Wednesday, signalling that stock investors are eager to buy shares of social networking companies even if valuations are lofty.

business Updated: May 20, 2011 01:48 IST

LinkedIn sold shares at the top of an already raised price range in its initial public offering on Wednesday, signalling that stock investors are eager to buy shares of social networking companies even if valuations are lofty.

It sold 7.84 million shares for $45 each, for a total of $352.8 million, as investors see the potential for the professional networking site to link companies with customers and job seekers.

The strong investor demand for the offering bodes well for other prominent social networking companies expected to go public in the coming months and years, including Facebook, Groupon, Twitter and Zynga.