July 19, 2011 / 10:17 PM / 7 years ago

UPDATE 1-Zillow prices IPO above range

* IPO of 3.5 mln shares priced at $20 each

* Raises 18 pct more than expected (Follows alerts)

July 19 (Reuters) - Real estate and housing data company Zillow Inc priced its initial public offering of 3.5 million shares at $20 apiece, raising 18 percent more than expected through the offering.

It would have raised about $59.5 million in proceeds from the IPO, when calculated at its previously announced price range of $16-$18 a share.

Seattle-based Zillow offers rent and house price estimates as well as real estate data on millions of U.S. homes through its websites and mobile phone applications.

It depends primarily on subscriptions from local real estate professionals for revenue, Zillow said in a regulatory filing.

Citigroup was the lead underwriter. (Reporting by Brenton Cordeiro; Editing by Prem Udayabhanu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below