Angie's List Surges After Pricing Shares at Top of Range |
| BusinessWeek - Nov 17, 2011 |
Angie's List Inc., the consumer- review website with more than 1 million paying members, surged as much as 44 percent in its trading debut after raising $114 million in an initial public offering.
Trading on the Nasdaq Stock Market under the symbol ANGI, Angie's List climbed 22 percent to $15.82 as of 1:52 p.m. New York time, after climbing as high as $18.75. The Indianapolis- based company sold 8.8 million shares, about 16 percent of its outstanding stock, for $13 apiece, the top of the proposed range.
Angie's List, which provides reviews of plumbers, electricians and other service providers, follows the success of Internet peer Groupon Inc.'s IPO this month. The Chicago-based online-coupon leader raised $700 million Nov. 3, 30 percent more than it sought, after pricing the shares above the marketed range. The stock surged 31 percent in its trading debut and had gained 20 percent since the IPO as of yesterday.
Read Full Article from BusinessWeek
- Posted: 2011-11-17 13:54:52
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