Web hosting company GoDaddy Inc will start trading its shares on Wednesday, and will be listed in NYSE (New York Stock Exchange) under the name of ‘GDDY’. The company has priced the initial offerings of its shares at $20, against the previously indicated $17 or $19 per share.
At this price, the IPO is expected to raise around $440 Million, which will eventually lead to a rise in the company’s valuation that will stand around $4.5 billion according to Reuters.
GoDaddy was founded in 1997, and acquired by KKR & Co LP and Silver Lake Partners LP for $2.25 billion in 2011. The company has expanded over the years by providing internet domains and services to small and medium scale businesses.
The domain provider had previously filed for IPO in 2006, but withdrew it considering unfavourable marketing conditions.Category News