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Yelp Expects IPO Priced Between $12 and $14 Per Share

Published: Friday, 17 Feb 2012 | 12:13 PM ET

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By: Reuters

Yelp, which offers online reviews of local businesses and services, said it expects to sell 7.15 million shares in its initial public offering at between $12 and $14 each.

In a filing with regulators, the company said it will sell 7.1 million shares and a stockholder will offer the rest.

In November, Yelp, which intends to list its stock on the New York Stock Exchange under the symbol "YELP," had filed to raise up to $100 million in its IPO, the day rival Angie's List went public.

Angie's List [ANGI Loading... () ] shares, which had surged on their market debut after being priced at the high end of the expected range, have been consistently trading above their IPO price.

Yelp, which has a total of about 25 million reviews of businesses ranging from dentists to restaurants to plumbers, claimed to have 66 million unique visitors on a monthly average basis in its latest quarter, according to a regulatory filing.

Goldman Sachs [GS Loading... () ] will be the lead bookrunning manager for the offering, with Citigroup [C Loading... () ] and Jefferies [JEF Loading... () ] acting as joint managers.