Groupon priced its IPO at $20 a share, above its expected range of $16 to $18, in a heavily oversubscribed offering that led the daily-deals site to sell an additional 5 million shares, according to reports.
The increase in offering price, which had been expected, brings Groupon's valuation to $12.7 billion. Shares of the Chicago-based company stock were oversubscribed by a factor of 10, AllThingsD reported.
Groupon upped the number of shares it will offer tomorrow to a total of 35 million. That still represents only 5.4 percent of its 637.3 million shares outstanding.
Demand for … Read more