Kayak Prices IPO at $26 a Share, Above Expected Range
By: Online travel service company Kayak Software priced its initial public offering at $26 a share, above the expected range of $22 to $25.
The company raised $91 million, with an offering of 3.5 million shares, as expected.
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.
— Reuters contributed to this article.
