Language learning app Duolingo raises price range for IPO

NEW DELHI: Duolingo Inc said on Monday it had raised the price target range for its initial public offering in the United States, in a sign there is high investor appetite for shares of the language learning app.

The company said nearly 5.1 million shares will now be sold in the IPO at a price range between $95 and $100 each. It had previously set the range at $85 to $95 per share. Duolingo could raise up to $511 million in the IPO, and on a fully diluted basis, the company’s value would be over $4.6 billion at the high end of the range.

About 1.4 million shares would be sold by stockholders, proceeds from which would not go to the company.