LinkedIn shareholders will sell 500 million dollar shares bain empty exit

Sina Science and technology news Beijing time, November 16, LinkedIn said in Tuesday, the company's shareholders will sell more than 6.7 million shares, worth about 500 million U.S. dollars, which the company's early investors Bain Capital will sell all the shares held.　　After LinkedIn's IPO, stock-trading locks are scheduled to expire on November 20, after which many early investors and employees can sell their shares. At the same time, LinkedIn will issue more than $100 million worth of shares after the company initially announced the announcement earlier this month. LinkedIn said today that it will sell at least about 1.3 million shares, with a total value of about $100.4 million on the last trading day.　　LinkedIn's share price fell 3.37 U.S. dollars to $75.12, or 4.29%, in regular trading on the New York Stock Exchange, up to 13:23 Eastern time (Beijing time, 16th 4:23). The shares that LinkedIn's shareholders will sell, plus the shares it has issued, will reach at least 8 million shares, almost as much as the company's 9 million-share current total in-circulation shares.　　After the IPO in May of this year, most of LinkedIn's shares were locked in the deal, banning them from selling immediately after the company's first listing. In a regulatory filing with the Securities and Exchange Commission (SEC), LinkedIn said the issue was aimed at boosting its "capital and financial flexibility" and also in order to increase the total number of shares in circulation. The paper shows that Bain Capital will sell the 3.7 million shares of B-Class shares held by LinkedIn.　　Other seller shareholders include a venture capital fund of SAP, which plans to sell 145,300 shares of Class B shares. Bain invested in LinkedIn in 2008, when the former led a 53 million-dollar financing round, joining Sequoia Capital and the US venture capital company Greylock to become one of LinkedIn's early investors.　　LinkedIn has performed well since the IPO, with prices rising from $45 a share to $109.97 in mid-July, but then back in August to the lower end of the $70 to 80-dollar range, as the overall market was in disarray. The listing of LinkedIn, the largest internet company IPO since Google's 2004 IPO, has sparked speculation in the market that valuations are too high for the relatively young and expensive company. According to LinkedIn's earnings earlier this month, the company's revenues rose by more than a year in the third quarter, but it suffered a net loss in the quarter. LinkedIn also says its users outnumberIncreased by 63% to 131.2 million in the same year. (Tangfeng)