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TOPIC: Pandora IPO "P" Trades Wednesday 6/15/11

Pandora IPO "P" Trades Wednesday 6/15/11 7 years 4 months ago #169

  • evilchild
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Online radio company Pandora Media priced shares in its initial public offering above an already raised range on Tuesday, the latest company to take advantage of red-hot valuations for Internet companies.

The company priced its shares at $16 each, according to a source familiar with the deal. The company raised $235 million based on 14.7 million shares it planned to sell, according to a government filing.

Late last week, Pandora increased its price target range to $10 to $12 per share.

The company's shares are expected to begin trading on the New York Stock Exchange on Wednesday under the symbol "P."

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