Harrah's IPO Pricing Delayed Over Concerns Shares Are Priced Too High

Harrah's Entertainment Inc.’s planned IPO has been delayed as a result of concerns that the shares have been priced too high, Reuters reported citing sources familiar with the matter. News of the delay was first reported by CNBC. The pricing was initially scheduled on Thursday, buy could be pushed backed to Monday. Harrah’s is seeking to raise about $500 million and plans to sell 31.25 million shares for $15 to $17 a share. The company is backed by Apollo Management and TPG.

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