- Pinterest has priced its initial public offering at between $15 and $17 a share, giving it a valuation of $11.3 billion at the upper end of the range.
- The social-media company was valued at $12.3 billion in its most recent round of private funding.
- Shares will trade on the New York Stock Exchange under the ticker PINS.
Pinterest has announced the pricing of its initial public offering at a value below that of its latest round of private fundraising.
The social-media company said Monday in a filing with the Securities and Exchange Commission that it would sell 75 million shares at a price between $15 and $17 apiece, giving it a maximum valuation of about $11.3 billion. Pinterest was most recently valued at $12.3 billion, following a 2017 fundraising round.
Pinterest will have both class A and class B shares. Class A shares will give shareholders one vote each, while class B shares will be worth 20 votes each. All shares issued before the initial public offering will be made class B immediately before the completion of the IPO, Monday’s filing said.
Shares will trade on the New York Stock Exchange under the ticker PINS.
Goldman Sachs, JPMorgan, and Allen & Company were listed as the lead underwriters.
Join the conversation about this story »
NOW WATCH: The founder and CIO of $12 billion Ariel Investments breaks down how his top-ranked flagship fund has crushed its peers over the past 10 years