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