Automotive pricing site TrueCar has revealed its IPO price will be set between $12 and $14, bringing the company a valuation of around $1 billion should the price-per-share lean closer toward the top end.
The Wall Street Journal reports the IPO's 7.78 million available shares — to be listed on NASDAQ as "TRUE" – could raise as much as $108.9 million once shares are made available.
Beyond the IPO, TrueCar will have 71 million shares outstanding; if priced at $14/share, the company's market valuation will be $994 million.
Lead underwriters of the IPO are Goldman Sachs, J.P. Morgan and RBC Capital Markets.
from The Truth About Cars http://ift.tt/Jh8LjA
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