BrokerageIndustry News

Trulia shares up nearly 50 percent in first day of trading

Company stands to raise approximately $90M from IPO

Editor's note: This story has been corrected to note that an offering of Zillow shares that closed Sept. 24 was a follow-on offering dilutive to existing shareholders, not a secondary offering of previously issued shares.  . Shares in real estate portal Trulia Inc. surged nearly 50 percent today from their opening price of $17, demonstrating investors' enthusiasm in the company's business model and future prospects.  San Francisco-based Trulia priced its initial public offering last night at $17 per share, which, after deducting expenses like underwriting discounts and commissions, will net the company $75.1 million for the 5 million shares it sold in today's offering. That total could rise to $89.3 million if underwriters exercise an option to buy up to 900,000 additional shares in the next 30 days, the company said in its latest regulatory filing. A number of existing shareholders including co-founders Sami Inkinen and Pete Flint put up another 1 million shares in the IPO. In ...