Wearable sports camera maker GoPro Inc’s initial public offering was priced at $24 per share, an underwriter said, valuing the company at up to $2.96 billion.
GoPro’s IPO raised about $427.2 million, after the offering of 17.8 million class A shares was priced at the top end of the expected range of $21-$24 per share.
The San Mateo, California-based company sold 8.9 million shares in the IPO, while the rest were offered by selling stockholders.
The company sells just one camera design under the Hero brand, which retails for between $199.99 and $399.99, and is extremely popular among athletes and action enthusiasts such as surfers, divers, skateboarders and cyclists.
