Groupon has filed with regulators to sell 30 million shares at $16 to $18 per share. And in that range, Groupon could raise $621 million and be valued at up to $11.4 billion, bankers said.
Earlier this year Groupon was valued at $20 billion and on track to move forward with a $750 million IPO, but that was lowered to $540 million after it was revealed in June in S-1 filings that the company had nearly $400 million in net losses, which triggered an intense backlash, widespread doubts about its business model, and SEC scrutiny.
A week before Groupon's expected IPO, bankers and fund managers indicated that Groupon's stock was likely to be oversubscribed partly because only 4.7 percent of shares will be floated.
Groupon's roadshow will continue next week in San Francisco, Denver, and Chicago. Goldman Sachs, Morgan Stanley, and Credit Suisse are leading Groupon's underwriting.
Groupon shares are expected to begin trading next Friday on the Nasdaq under the symbol GRPN.