Kayak Likely to Raise IPO Price Range
General Assignment Reporter
Online travel service company Kayak Software is likely to raise its price range when its initial public offering is priced this week, sources told CNBC.
Kayak currently expects to sell 3.5 million shares between $22 and $25 each, which at the high end of the range would value Kayak at $964 million.
Trading is expected to begin on Friday.
Kayak is backed by private-equity players like General Catalyst Partners, Sequoia Capital, Accel Funds, and Oak Investment Partners.
The company expects to lists its shares on the Nasdaq under the symbol "KYAK." Its offering is being underwritten by Morgan Stanley and Deutsche Bank Securities among others.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.