Venture-backed Shopify sets pricing terms for IPO

Shopify Inc, a Canadian e-commerce platform for small businesses, has priced its initial public offering (IPO) of 7.7 million shares at between US$12 and US$14 per share. As reported by Reuters in April, Shopify is expected to raise proceeds of US$100 million or more. The company will list the stock on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols "SHOP" and "SH", respectively. Morgan Stanley, Credit Suisse and RBC Capital Markets are serving as the IPO's lead underwriters. Shopify's Canadian and U.S. venture capital investors include Bessemer Venture Partners, Felicis Ventures, FirstMark Capital, Georgian Partners, Insight Venture Partners and OMERS Ventures.

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