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Article: Ancestry.com hopes to raise $100 million in IPO
- Article from:
- AP Online
- Article date:
- November 4, 2009
- Author:
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Genealogy Web site Ancestry.com hopes to raise about $100 million when it goes public this week. With more than a million paying subscribers, little competition, a small debt load and a record of increasing revenues, it may fare better than other IPOs that have recently priced below their filing ranges.
The Provo, Utah-based company, which is the world's largest online resource for birth certificates and marriage records, expects to price the shares between $12.50 and $14.50 apiece on Wednesday. Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to about $115 million.
Five of the last nine IPOs ...