LuLulemon's IPO prices at $18/shr-underwriter

NEW YORK, July 26 (Reuters) - The initial public offering of workout wear retailer Lululemon Athletica Inc (LULU.O)(LLL.TO) raised $327.6 million, above expectations, an underwriter said on Thursday.

The offering of 18.2 million shares at $18 per share had been expected to price in the range of $10 to $12 per share. Canada's Lululemon had adjusted the size several times in recent weeks.

Lululemon, which operates a chain of clothing stores, said it plans to use proceeds from the offering to fund new store openings, working capital and for other general corporate purposes. The company plans to list its stock on Nasdaq under the symbol LULU and on the Toronto Stock Exchange under LLL.

Goldman Sachs & Co and Merrill Lynch & Co are lead managers on the offering. Credit Suisse, UBS Investment Bank, William Blair & Co, CIBC World Markets, Wachovia Securities, and Thomas Weisel Partners LLC are serving as co-managers. (Reporting by Jackie Sindrich and Mark McSherry)