Shares for the number-two online service are expected to sell between $27 and $30 each
H&R Block, CompuServe's parent company, announced in February that it will spin off its stake in the service this year. Block will continue to hold an 80 percent stake in the company after its initial public offering.
During CompuServe's third quarter, which ended January 31, the service added 490,000 new members to its subscriber list of more than 4.3 million and 65 new corporate accounts for a total of 928. While H&R Block reported a loss of $5.5 million, or 5 cents per share, in its third quarter, CompuServe revenue increased 31.7 percent for a total of $203 million.
CompuServe goes public