GoDaddy prices IPO above previous estimate, expects to raise up to $460 million

Markets Associated Press

GoDaddy hopes to raise up to $460 million in an initial public offering that is priced above an earlier estimate from the web hosting company.

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The Scottsdale, Arizona company, known for its racy Super Bowl commercials, is offering 23 million shares at $20 apiece. It previously had planned to offer 22 million shares for as much as $19 apiece.

Underwriters have a 30-day option to buy up to an additional 3 million shares. The lead underwriters are Morgan Stanley & Co., J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

The stock will begin trading Wednesday on the New York Stock Exchange under the "GDDY" ticker symbol.

GoDaddy Inc. says it's the largest provider of Web domains and has about 13 million customers. It posted a net loss of $143.3 million in 2014, though its revenue grew 23 percent to $1.4 billion.