Pinterest is expected to price its initial public offering above the expected range, according to The Wall Street Journal.
The image-sharing social media company initially said in a regulatory filing that it planned to sell 75 million shares at price range of $ 15 to $ 17 a share, valuing the company at $ 9 billion.
The company reported $ 756 million in 2018 revenue in its IPO prospectus. Revenue grew 60% year over year, but the social media company still had a net loss of $ 63 million.
Pinterest will list under the symbol PINS on the New York Stock Exchange. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silbermann.
Read the full Wall Street Journal report here.
—CNBC’s Sara Salinas and Reuters contributed to this report.