Pinterest prices IPO at $19, above target range


A Pinterest Pin made of a LEGO installation is seen in this undated photo taken at Pinterest headquarters in San Francisco, California, U.S. released on April 16, 2019. Courtesy Pinterest/Handout via REUTERS

NEW YORK (Reuters) – Pinterest Inc, the online scrapbook where users save ideas for clothes, décor and recipes, said on Wednesday it priced its initial public offering at $19 per share, above its $15-$17 target range.

At this price, Pinterest raised around $1.4 billion at a roughly $12.6 billion valuation, taking into account restricted stock units and options.

The company is due to start trading on the New York Stock Exchange on Thursday under the symbol “PINS”.

Reporting by Joshua Franklin in New York; Editing by Lisa Shumaker

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