The Associated Press November 3, 2011, 7:47PM ET

Groupon prices IPO at $20 per share

Daily deals pioneer Groupon has priced its initial public offering at $20 per share.

That's above its expected range of $16 to $18 a share, indicating investors are eager to snap up its stock.

This price gives Chicago-based Groupon Inc. a market value of $12.7 billion. That makes Groupon the biggest technology IPO since Google Iwent public in 2004.

The stock is expected to begin trading publicly Friday under the symbol "GRPN."

Groupon is offering a small fraction of its stock to the public, just 4.7 percent. That is below the percentage that many prominent tech companies have offered.

The company has had a rocky road to its IPO. It drew scrutiny from the SEC for the way it counted revenue. And rival companies have popped up left and right.


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