Pandora, an Internet music service, is scheduled to begin trading shares in an initial public offering on Wednesday on the New York Stock Exchange under the symbol “P.” Last week, the company ramped up its plans, increasing its IPO price range by at least a third and boosting the number of shares to be sold by as many as a million. It raised the price range to $10 to $12, up from the initial $7 to $9. It is now offering up to 14.7 million shares, up from 13.7 million. There is a reason for Pandora’s optimism: Its mobile app is among the most-used across all smartphone platforms.
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Pandora's Music Box Wound Up for Wall Street Debut
Posted by: Erika Morphy June 13, 2011 10:52 AMPandora, an Internet music service, is scheduled to begin trading shares in an initial public offering on Wednesday on the New York Stock Exchange under the symbol “P.” Last week, the company ramped up its plans, increasing its IPO price range by at least a third and boosting the number of shares to be sold by as many as a million. It raised the price range to $10 to $12, up from the initial $7 to $9. It is now offering up to 14.7 million shares, up from 13.7 million. There is a reason for Pandora’s optimism: Its mobile app is among the most-used across all smartphone platforms.