Yelp Looking For $12 To $14 Per Share In IPO
SAN FRANCISCO (CBS / AP) -- Online business rating service Yelp hopes to sell its stock for $12 to $14 per share in an upcoming IPO.
The price range set in a Thursday regulatory filing marks the first time Yelp has publicly disclosed how much it thinks it's worth. If the initial public offering sells at $14 a share, Yelp would have a market value of about $840 million.
San Francisco-based Yelp Inc. plans to sell 7.1 million shares while its charitable foundation will sell 50,000 shares. Investment bankers also have an option sell an additional 1.1 million shares, depending on investor demand.
At $14 per share, the IPO could raise as much as $115 million, before expenses.
Thursday's filing signaled Yelp is nearing the end of an IPO process that began in mid-November.
(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
