LinkedIn's shares closed at $94.25 each after the initial public offering of $45 per share and more than doubling its market capitalization to $8.9bn.
LinkedIn, a US-based social network for business professionals, has seen a 109% rise in its share price during the first day of trading after its flotation even after pricing at the top of its revised range.
LinkedIn’s shares closed at $94.25 each after the initial public offering of $45 per share and more than doubling its market capitalization to $8.9bn. This is more than 30 times LinkedIn’s $243m in revenues last year, from which it showed net income of $15m.
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