CompuServe today put a price tag on its initial public offering of 16 million shares at $27 to $30 each. The number-two online service expects the IPO to raise about $480 million.
CompuServe's parent company, H&R Block, last month announced that it would separate the online service from its tax preparation business and filed with the Securities and Exchange Commission. The company will offer 20 percent of its holdings to the public.
The remaining 80 percent is expected to be offered within a year, H&R Block said.
Related story:
CompuServe goes public>
Discuss: CompuServe to sell 16 million shares
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.