After an IPO build-up marred by persistent criticism of the three-year-old company’s business model, accounting and leadership, the underwriting team of 14 banks remains confident that perceptions of the company can be changed when management actually gets a chance to tell the story on the roadshow due to formally start next week.

Groupon plans to sell 30m shares at a price range of US$16-$18 a share for a valuation of US11.4bn or less, well south of earlier estimates of more than US$20bn. At the upper end, the deal would raise US$540m in fresh capital, less than the US$750m amount nominated in its IPO registration document first filed with the Securities and Exchange Commission in June

via Groupon launches IPO with view to speed | Reuters.