LinkedIn announced last week that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock.
According to a company blog post, the number of shares to be offered and the price range for the offering have not yet been determined. A part of the shares will be issued and sold by LinkedIn while a portion will be sold by certain stockholders, LinkedIn said.
The intention to go public sets the stage for the first social network to “plant a flag on wall street,” according to Reuters.
“The bookrunning managers of the proposed offering will be Morgan Stanley & Co. Incorporated, BofA Merrill Lynch and J.P. Morgan Securities LLC. Allen & Company LLC and UBS Securities LLC will be acting as co-managers,” said company CFO Steve Sordello in a post on the LinkedIn blog.