Groupon, the giant daily deals company is planning on pricing its IPO and officially becoming a public company Friday, listing on Nasdaq under the ticker symbol GRPN. Groupons aims to raise $540 million at a valuation of $11.4 billion.
Demand for the stock is expected to be strong, but Groupon has been tarnished by questions surrounding unorthodox accounting measures, revisions of sales figures and scaled-back expectations of how much money Groupon will raise.
Late last month, Groupon dialed back how much it hopes to raise in its IPO by 28% to $540 million. The company is putting 30 million shares up for sale, hoping they’ll receive between $16 and $18 apiece. It had originally filed to raise $750 million.
