Lending Club Boosts Size of Planned IPO
Lending Club has reportedly increased the size of its planned IPO to $650m as it prepares to launch investor meetings next week. The peer-to-peer lending company initially aimed to sell ~500m worth of stock. The FT claims that the company will likely set a valuation range that starts at $3.8bn – Lending Club’s value during its final private financing round earlier this year – and then adjust the pricing based on investor demand. Lending Club filed to go public in August and said in October that it would trade on the NYSE under the ticker symbol “LC.”
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