Deals
Groupon Said to Close IPO Orders Early on Demand for Shares
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Groupon Inc. stopped taking orders for its initial public offering a day earlier than planned because of demand for the shares, said two people familiar with the sale.
The company planned to close the order book for stock at 4 p.m. New York time today, said the people, who declined to be identified because the matter is private. Groupon’s shares are scheduled to price tomorrow and begin trading on Nov. 4. The daily-deals site is seeking to raise as much as $540 million selling 30 million shares for $16 to $18 apiece. The top end of the range would value Groupon at $11.4 billion.