iVillage chooses high end for IPO price
iVillage sets its IPO price at 24 a share after nearly doubling its pricing range earlier this week under heavy investor demand.
The company, which priced on the high end of its range, is expected to begin trading tomorrow under the ticker "IVIL."
iVillage will raise $87.6 million based on its target price and the 3.65 million shares the company plans to float out.
In a rare move, iVillage earlier this week raised its pricing range by 71.4 percent to 22 to 24 a share, up from its initial range of 12 to 14.
IPO analysts noted that only eight companies have increased their pricing range by a greater degree than iVillage in the past five years.
Investors that stand to make millions on their investment include America Online, which will hold a 10 percent stake in the company after the IPO, and NBC, which will hold a 7 percent stake.
iVillage, which operates 14 channels that cover such areas as health and money, posted a $43.7 million loss last year, compared with a loss of $21.3 million the previous year. Revenues, meanwhile, rose to $15 million last year, up from 6 million in the prior period.