Yelp prices IPO above expected range: underwriter

Reuters News
Posted: Mar 01, 2012 8:53 PM

(Reuters) - Yelp Inc, which offers online reviews of local businesses and services, priced its initial public offering at $15 a share, above its indicated price range, according to an underwriter.

The IPO generated $107.3 million in proceeds. The company had planned to sell shares in the offering at between $12 and $14 a share.

The offering consisted of 7.1 million shares being sold by Yelp, with the rest being sold by a stockholder.

Yelp shares are expected to begin trading on Friday on the New York Stock Exchange under the symbol "YELP."

Goldman Sachs was the lead bookrunning manager for the offering, while Citigroup and Jefferies acted as joint bookrunning managers.

(Reporting by Aman Shah in Bangalore; Editing by Richard Pullin)