Match Group IPO: Shares Sell For $12 In First Date With Wall Street
Match Group Inc. priced its initial batch of shares at $12 Wednesday, the company announced, the low end of the online dating company's projected range. Match Group is scheduled to begin trading Thursday on the Nasdaq exchange under the symbol "MTCH." Match sold 33.3 million shares to raise about $400 million, and underwriters have access to 5 million more shares if demand exists. Match owns 45 brands, including Tinder and OkCupid, and had a total of 59 million monthly active users as of Sept. 30. The company is profitable, posting net earnings of $148 million in 2014 and revenue of $888 million.
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