LendingClub expects IPO to be priced at $10-$12/shr

Mon Dec 1, 2014 6:35am EST
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Dec 1 (Reuters) - LendingClub Corp, the world's largest online marketplace directly connecting borrowers and investors, expects its initial public offering to be priced at $10-$12 per share.

At the top end of the expected price range, the company will be valued at $4.33 billion and it will raise $692.4 million.

LendingClub is offering 50 million shares, while selling shareholders will offer 7.7 million shares in the IPO, according to a regulatory filing on Monday. (1.usa.gov/15Mk7sN) (Reporting by Avik Das in Bengaluru; Editing by Siddharth Cavale)