California-based online business-networking site, LinkedIn, is planning to raise $175 million through an initial public offering (IPO), The Wall Street Journal reports. The amount and price of the shares have not been disclosed. The stock sale may include some shares from existing shareholders and some issued and sold by LinkedIn. Morgan Stanley, Bank of America Merrill Lynch and JPMorgan Chase have been appointed as the underwriters for the IPO. Allen & Company and the investment banking division of UBS are also working on the LinkedIn share sale, adds Bloomberg.
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