Chicago based Groupon is the largest online coupon site, and earlier in the year was seeking about $25 Billion in a valuation for an IPO. The market did not react well to that value. This time around, the company is looking for a valuation of $11.4 billion for the offering.
Originally set at a target opening price of $16 to $18 per share, GRPN stock is expected now to open the day at $20. Groupon is hoping to sell 30 million shares, under the IPO to help the company raise about $540 million.
In earlier reports, some analysts, including Paul Kedrosky author of the Infectious Greed blog and a Bloomberg contributing editor, anticipate that the Groupon stock price will rise as much as 50% within a week after the IPO. (Source: Bloomberg)