LinkedIn prices follow-on offering to raise $1.2 bln for expansion

Sept 4 Wed Sep 4, 2013 8:10pm EDT

Sept 4 (Reuters) - LinkedIn Corp on Wednesday said it was pricing its follow-on offering of 5.4 million class A shares at $233.00 per share.

The company intends to raise $1.2 billion through the offering.

The social networking website for professionals on Tuesday said it planned to use the proceeds for product development and international expansion.

Shares of the company were down 2.6 percent at $232.60 in after-hours trading on the New York Stock Exchange on Wednesday.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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