Groupon, the online coupon group, raised $700m in its highly anticipated initial public offering on Thursday night, with the pricing at $20 a share valuing the group at $12.65bn.
The valuation was above its range of $10bn-$11bn, but below the valuation it had been seeking earlier this year of closer to $20bn, the Financial Times reports. Its initial filing this year was greeted by a wave of excitement following the IPO of LinkedIn but concerns about its accounting and core business sapped interest. Expectations for the IPO reached a nadir earlier this summer, as the company delayed a planned offering in September amid a sharp increase in market volatility. But underwriters, led by Morgan Stanley, Goldman Sachs and Credit Suisse, engineered a turnround by sl...
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