Business

LegalZoom.com Inc’s shares opened 31% above their offer price

By Aviyukta Adlakha

LegalZoom.com Inc’s shares opened 31% above their offer price on Wednesday. This added value of the online legal services company at $7 billion in its Nasdaq debut in what was its second attempt at a stock market listing. The stock opened at $36.75 per share, rather than the initial public offering price of $28 per share.

It sold around 19.1 million shares in its IPO on Tuesday, raising about $535.4 million. Though it has tough competition from solo attorneys and law firms, has been involved in several lawsuits alleging unauthorized practice of law or unfair competition. The company, however, denies these allegations.

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Aviyukta Adlakha

Aviyukta is a creative and passionate person who loves exploring new opportunities. She is a travel enthusiast and loves writing. She is currently working as a Business/ Current Affairs Intern in USA Newshour. She can be contacted at adlakhaaviyukta27@gmail.com.