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Shopping.com holders cut IPO shares
September 10, 2004 7:14am ET (Reuters)

WASHINGTON, Sept 10 (Reuters) - Shopping.com Ltd., an online comparison shopping service, on Friday lowered the number of shares to be sold by shareholders in the company's planned initial public offering.

The Israel-based company said in a regulatory filing that shareholders now plan to sell 1.9 million shares instead of 2.9 million.

Shopping.com, which has applied to list its stock on Nasdaq under the symbol "SHOP" , still plans to sell 5 million shares and left the estimated price range of $14 to $16 per share unchanged.

Under the proposed terms, the IPO could raise $110 million at the high end of the price range.

The underwriters, led by Goldman, Sachs & Co. and Credit Suisse First Boston, will have the option to buy 1 million more shares to cover over-allotments, according to an amended prospectus filed with the U.S. Securities and Exchange Commission.