(Refiles to fix typo in paragraph 7)
* Expects to sell 13.68 shares for $7-$9 apiece
* The Hearst Corporation to sell 4.4 mln shares
June 2 Online radio company Pandora Media Inc
expects to raise 40 percent more than prior estimates in the
initial public offering of its stock, as investor interest in
Pandora said it will offer 13.68 million shares for sale in
the offering which it expects to price between $7 and $9 a
At the high end of the range, the company will raise $123.2
Pandora, in February, filed for an IPO of $100 million.
In its amended IPO filing with the Securities and Exchange
Commission, the company said selling stockholders will offer 8.7
Oakland, California-based Pandora, which runs an online
service that allows users to stream free music based on feedback
from the listener, was launched in 2005.
The Hearst Corp, which beneficially owns 5.37 percent of the
company, will sell 4.4 million shares, the filing said.
Pandora, which had 94 million registered users as of April
30, more than doubled its revenue in the first quarter.
The company expects to list on the New York Stock Exchange
under the symbol "P" after the offering.
(Reporting by Himank Sharma in Bangalore; Editing by Joyjeet