01|12|2011 08:37 pm EDT
According to Bloomberg Demand Media plans to raise $120 million selling shares for $14 to $16 in their IPO scheduled for January 25th, 2011. The company, run by co-founder, chairman and chief executive officer Richard Rosenblatt, has now cleared its final SEC hurdle and set the IPO date and pricing. The IPO had stalled in December when the SEC was waiting for responses on the company’s accounting practices. Goldman Sachs and Morgan Stanley are leading the $7.5 million offering. The shares will be offered at the New York Stock exchange under the DMD symbol.
Demand Media is parent company to many companies such as registrars eNom and Bulk Register, many websites such as eHow and domain parking company Hotkeys.