Pinterest prices its IPO at a price tag of $11.3 billion - below where it was last valued

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Pinterest prices its IPO at a price tag of $11.3 billion - below where it was last valued

FILE PHOTO: A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. REUTERS/Brendan McDermid

Reuters

FILE PHOTO: A Pinterest banner hangs on the facade of the NYSE in New York

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Pinterest announced the pricing of its initial public offering on Monday morning at a price tag below where it was previously valued.

The social-media company set the range of its IPO at between $15 and $17 a share, according to a filing with the Securities and Exchange Commission, giving it a maximum valuation of about $11.3 billion. Pinterest was last valued at $12.3 billion.

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