Pinterest to price IPO below last valuation

Pinterest Inc. set a price range of $15 to $17 per share for its initial public offering, according to an April 8 regulatory filing. Pinterest expects net proceeds of about $1.15 billion, or about $1.32 billion if the underwriters exercise their option to buy additional shares in full, at an assumed IPO price of $16 per share, which is the midpoint of the estimated offering price range. LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Asset Management Arm, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBC Capital Markets LLC, Robert W. Baird & Co.

Source: www.spglobal.com