LinkedIn files registration for proposed public stock offering

LinkedIn files registration for proposed public stock offering

2011-01-28 05:13:11 GMT+7 (ICT)

MOUNTAIN VIEW, CALIFORNIA (BNO NEWS) -- LinkedIn Corporation on Thursday announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering (IPO) of its Class A common stock.

LinkedIn, the popular professional networking website, said the number of shares to be offered and the price range for the offering have not yet been determined. The company said a portion of the shares will be issued and sold by LinkedIn, and a portion will be sold by certain stockholders of LinkedIn.

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.

"A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective," LinkedIn said in a brief statement.

LinkedIn started out in the living room of co-founder Reid Hoffman in late 2002 and launched officially on May 5, 2003. At the end of the first month of operation, LinkedIn had around 4,500 users. As of January 2011, the company said it has more than 90 million users around the world.

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