Groupon Expects $480M From IPO

Had hoped for $750M just months ago
By Matt Cantor,  Newser User
Posted Oct 21, 2011 7:20 AM CDT
The Groupon logo is displayed in the lobby of the company's international headquarters on June 10, 2011 in Chicago.   (Getty Images)

(Newser) – Early this summer, Groupon was aiming to raise $750 million in its initial public offering; now, it expects to raise no less than $480 million but no more than $540 million from the sale of 30 million shares, the AP reports. In a tough market for stock offerings, the firm has faced questions over accounting practices. Shares will be priced between $16 and $18 each, the company says in a regulatory filing today, with proceeds going to working capital as well as possible acquisitions. (Read more Groupon stories.)

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