Shares of online coupon company RetailMeNot rise in market debut
July 19 (Reuters) - Shares of online coupon company RetailMeNot Inc rose as much as 30 percent in their market debut on Friday, valuing the company at about $1.3 billion.
RetailMeNot's shares opened at $26.50 on the Nasdaq and touched a high of $27.30. The offering of 9.1 million shares was priced at $21 per share, the midpoint of the expected range, raising $191.1 million.
The company, which connects consumers and retailers, offers digital coupons for everything from clothing, electronics, travel, food and entertainment to personal and business services from over 60,000 retailers and brands.
Morgan Stanley, Goldman, Sachs and Credit Suisse Securities were the lead underwriters for the offering.
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