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Wednesday, September 19, 2012

Trulia ipo stock price range and symbol

Trulia ipo stock price range and symbol : the market’s appetite for initial public offerings will be tested Wednesday evening, with the first deals after the end-of-summer lull set to price before their Thursday trading debuts.

Trulia Inc., the week’s highest-profile launch, is expected to garner strong demand. The real-estate-listing company is looking to price six million shares at between $14 and $16 in a deal estimated to deliver net proceeds of $65.8 million.

San Francisco’s Trulia provides home listings through the Web and mobile applications, and makes money selling subscriptions and advertisements. The company said it had 22 million site users in the first six months of the year, and more than 21,000 paying subscribers.

Trulia’s road show to pitch the deal to investors met strong interest from retail and institutional investors, according to Scott Sweet, an adviser with IPO Boutique, who noted he expected shares to price at the high end of the expected range.

The stock is slated to list on the New York Stock Exchange under the symbol “TRLA.”

Two competitors already are publicly traded, Zillow (NYSE: Z ) and Realtor.com, which trades under corporate name Move Inc. (NASDAQ: MOVE ). Zillow went public at $20.00 per share and the stock has risen to $44.60 on Wednesday. MOVE is up better than 38 percent in 2012.

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