Pandora (P) IPO Surges Higher
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The IPO Pandora Media, Inc. (NYSE: P) is open for trading. Shares are trading at $20.50 after pricing approximately 14.7 million shares at $16.00, well above the expected $10-$12 range.
The bookrunning managers of the offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. Co-lead manager of the offering is Citigroup Global Markets, Inc. and co-managers are William Blair and Company, L.L.C., Stifel Nicolaus Weisel and Wells Fargo Securities, LLC.
Pandora's market cap is implied at approximately $2.6 billion based on the $16 pricing.
Pandora gives people music they love anytime, anywhere, through connected devices.
The bookrunning managers of the offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. Co-lead manager of the offering is Citigroup Global Markets, Inc. and co-managers are William Blair and Company, L.L.C., Stifel Nicolaus Weisel and Wells Fargo Securities, LLC.
Pandora's market cap is implied at approximately $2.6 billion based on the $16 pricing.
Pandora gives people music they love anytime, anywhere, through connected devices.
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