Some of the corporate venturing backers behind US-based business networking company LinkedIn will sell their holdings in their portfolio company at its flotation on May 18. LinkedIn will offer 7.84 million class A shares in its initial public offering, pricing the shares between $32 and $35 each to raise up to $315.6m with a $3.3bn market capitalisation, or 13 times revenues. The company is placing 4.8 million shares through investment banks Morgan Stanley, BofA Merrill Lynch and JP Morgan, with shareholdings selling 3 million. Investment bank Goldman Sachs, will sell its full 871,840 shares to raise $30.5m at the top end of the range; publisher McGraw-Hill Companies will sell its 435,920 shares (for $15m) and venture debt lender SVB Financial Group its 70,365 ($2.5m), according to LinkedIn’s regulatory filing.

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