Saturday September 26, 2020

Groupon shares rise 55% as IPO raises $700m

UPDATE: Groupon raised $700 million (€508 million) in its initial public offering valuing the biggest online-coupon provider at about $12.7 billion.

4th November, 2011
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Groupon Inc. rose as much as 55 per cent in Nasdaq trading after raising $700 million in its initial public offering.

The shares of the Chicago-based company, listed under the symbol GRPN, climbed as high as $30.90 in early Nasdaq trading. Yesterday, Groupon sold 35 million shares at $20 each, the biggest IPO by a US Internet company since Google Inc. raised $1.9 billion in its 2004 initial offering, according to Bloomberg.


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