IPO values online furnishings retailer Wayfair at up to $2.32 bln

Online home-furnishings retailer Wayfair Inc's initial public offering is expected to be priced at $25-$28 per share, valuing the company at $2.32 billion at the top end of the range.

The offering of 11 million class A common shares is expected to raise up to $308 million, with Wayfair offering 10.5 million common shares, the company said in a filing with the U.S. Securities and Exchange Commission. (http://1.usa.gov/1v0KnWZ)

The Boston-based company owns brands such as online flash sales site Joss & Main, furnishings websites Dwell Studio and Birch Lane and offers more than 7 million products.

It counts funds affiliated with Great Hill Partners, Battery Ventures and HarbourVest Partners among its stockholders.

Great Hill Partners' shares in Wayfair will fall to 11.04 percent following the IPO from 11.26 percent.

Wayfair, previously known as CSN Stores LLC, reported a 52 percent jump in revenue to $915.8 million for 2013. Net loss narrowed to $15.5 million from about $21 million.

Wayfair, founded in 2002, intends to list its shares on the New York Stock Exchange under the symbol "W."

Goldman Sachs & Co, BofA Merrill Lynch, Citigroup, Allen & Co LLC are among the lead underwriters.