Zillow sets IPO at $20 per share in Wed. offering

July 19, 2011 - 6:30 PM

NEW YORK (AP) — Real estate listing and information service Zillow Inc. says it will sell its shares for $20 apiece in its initial public offering Wednesday.

That's $2 higher than the top of the range it predicted on Friday.

The company, based in Seattle, says it will sell roughly 3.5 million shares, meaning it aims to raise just over $69.2 million through the public sale of common stock. It also plans a private placement of about 275,000 common shares, which would raise about $5.5 million more.

All told, the company expects to tally about $74.7 million, above the $71.6 million it said it expected to raise on Friday.

Shares will trade on the Nasdaq Global Market under the symbol "Z."