Sept 7 Trulia Inc said it expects to raise up to
$100 million in its initial public offering, as the real estate
website seeks to take advantage of a recovery in the U.S.
The offering of 6 million shares is expected to be priced
between $14 and $16 a share.
The San Francisco-based company said it would sell 5 million
shares in the offering, while selling stock holders would offer
The IPO will raise $90 million at the mid-point of the
range. Trulia expects to receive $65.8 million, after deducting
the estimated underwriting discounts and commissions and
Trulia, which competes with Zillow Inc and
Realtor.com, provides real estate residential information to
professionals and offers services like Trulia Local Ads and
The company expects to gain from a nascent recovery in the
U.S. housing market. Sales of single family homes rose 4 percent
to 337,000 and housing indicators showed sign of recovery in the
first quarter of 2012, according to a report by U.S. Housing
The company, whose new service Trulia Insight pre-qualifies
consumers for a mortgage, is backed by private equity firms such
as Accel Partners and Sequoia Capital.
The company told the U.S. Securities and Exchange Commission
that JP Morgan and Deutsche Bank were lead underwriters to the
The real estate listing website intends to list its common
stock on the New York Stock Exchange under the symbol "TRLA".