LinkedIn IPO Hot Stock on the Exchange Today

LinkedIn, which is seen by many as the Facebook of the business world, recently announced the pricing of its IPO (initial public offering) of 7,840,000 shares of common stock at a price to the public of $45.00 per share. The LinkedIn IPO has been a hot topic on Wallstreet and the Internet all week.

LinkedIn Corporation, founded in 2003, is the world’s largest professional network on the Internet. The network, which allows for individuals to connect to other individuals in a much more business like manner than Faceboook, currently has more than 100 million members in over 200 countries and territories. Its user base includes executives from every Fortune 500 company, thus providing the ultimate business “networking” tool for many in the corporate world.

From its headquarters in Mountain View, California, the company’s diversified business model generates revenue from member subscriptions, advertising sales and hiring solutions.

According to the press release by the company, as part of the IPO, a total of 4,827,804 shares are being offered by LinkedIn Corporation, and a total of 3,012,196 shares are being offered by selling stockholders. In addition, LinkedIn Corporation has granted the underwriters a 30-day option to purchase up to an additional 1,176,000 shares to cover over-allotments, if any. LinkedIn will not receive any proceeds from the sale of shares by the selling stockholders.

The bookrunning managers of the offering are Morgan Stanley & Co. Incorporated, BofA Merrill Lynch and J.P. Morgan Securities LLC. Allen & Company LLC and UBS Securities LLC are the co-managers. LinkedIn’s common stock will trade on the New York Stock Exchange (NYSE) under the symbol “LNKD.”