GrubHub said it expects to price its initial public offering of 7.03 million shares at $20 to $22 per share, valuing the largest U.S. online food delivery services provider at up to $1.72 billion.
The Chicago-based company said the IPO is expected to raise about $155 million, based on the top end of the price range.
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GrubHub, which handles pick-up and delivery orders for restaurants online and via the phone, said it would sell 4 million shares in the offering. The rest are being offered by stockholders.
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