Industry News

HouseValues IPO gets a boost

Real estate lead company to raise $93.8 million

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HouseValues on Thursday priced its initial public offering at $15 a share, well above its initial estimated range of $10 to $12. At the opening price, the company will sell $93.8 million in shares. In the first hours of trading today, shares were selling at around $17, with a volume of about 7.1 million. The company is offering 4.2 million shares, and its selling shareholders are offering 2.1 million shares. Common stock will be traded on the Nasdaq National Market under the trading symbol "SOLD." If there is increased demand for HouseValues stock, underwriters have been granted a 30-day option to purchase up to an additional 625,000 shares from HouseValues, and up to an additional 312,500 shares from the selling shareholders. If those shares are sold, the company will raise $107.8 million. HouseValues generates online leads for real estate agents through its HouseValues.com and JustListed.com Web sites. The company also provides products and services for agents to manage and con...