Amid a sharp run-up in Internet stocks, CitySearch today proposed a price for its initial public offering. The implied valuation of about $270 million comes despite continued losses at the CitySearch directory, but it reflects optimism that the company can capitalize on the red-hot stock market.
CitySearch sets IPO price
The online directory sets a price for its previously planned initial public offering at a range of between $11 and $13 per share for up to 4 million shares.
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