LinkedIn is selling its shares for $30 apiece in an auction by secondary exchange, SharesPost, Bloomberg reports. The move, which will value the professional-networking website at almost $3 billion, will give sellers until this week to commit to SharesPost. The company will sell a minimum of 95,500 shares, while the buyers will be required to invest at least $100,000 to be eligible. The California-based company has appointed Morgan Stanley and JP Morgan Chase to advise on the sale.
Click here for the story from Bloomberg.
Click here for additional coverage from Business Journal.