RetailMeNot Sets Price For IPO

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RetailMeNot, has set pricing terms of its initial public offering.

The Austin-based a digital coupon company plans to offer 9.09 million shares at US$20 to US$22 per share.

Last month RetailMeNot publicly filed for a US$230 million IPO. The company plans to trade on the Nasdaq under the ticker "SALE."

The range of the offering at midpoint would be worth US$190.9 million.

The company said that half of the shares are being sold by investors and half are being sold by the company. The IPO is estimated to come to a value of more than US$1 billion.

RetailMeNot has digital coupons from more than 60,000 retailers and brands in 2012. The company also has contracts with more than 10,000 retailers.

RetailMeNot posted revenue of US$144.7 million for 2012, which went up from the previous US$80.4 million in 2011. Net income for RetailMeNot in 2012 was at US$26.0 million, up from US$17.0 million posted in 2011.

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