US-based online storage technology company Box set the range for its initial public offering on Friday between $11 and $13, and plans to issue 12.5 million shares.

The IPO would value Box at $1.55bn and would raise $162.5m if the company floated at the top of its range. If the underwriters take up the option to buy another 1.9 million shares the proceeds would increase to approximately $186.9m.

Formed in 2005, Box has built an online content storage and…

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