Music streaming service
Pandora has priced its IPO at
$16 per share, valuing the company at $2.6 billion. The company originally set the range of its IPO at $7 to $9 per share, at a market cap of $1.3 billion; but upped the range last week to $10 to $12 per share, giving the company a valuation of $1.9 billion. Pandora's stock will begin trading tomorrow morning on The New York Stock Exchange under the symbol ?P.? The company expects to raise as much as
$235 million in the offerring and will offer 6,000,682 shares of its common stock with the selling stockholders are offering 8,683,318 shares of common stock in the IPO.
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