(Reuters) – Groupon Inc plans to raise as much as $540 million in an initial public offering, less than previously planned, as the daily deals website grapples with a weak equity market, executive departures and questions about its accounting and business model.
The company aims to sell 30 million shares, or less than 5 percent of the company, at between $16 and $18 each, according to a regulatory filing on Friday.
Full Story: Groupon’s scaled back IPO to raise up to $540 million