Sept 5 Real estate website Zillow Inc said
it would sell 3.2 million shares in a secondary offering,
sending its shares down 3 percent in extended trading.
The company will use proceeds from the offering for working
capital and general corporate purposes.
Based on the stock's closing price of $42.43 on the Nasdaq
on Wednesday, the offering could be valued at $135 million.
Certain shareholders will sell an additional 325,000 shares
in the offering, the company said.
Zillow also intends to grant underwriters an option to
purchase up to an additional 525,000 shares to cover
over-allotments, if any.
Citigroup and Goldman, Sachs & Co are the joint bookrunning
managers for the offering.