Online legal services company LegalZoom.com Inc has delayed its initial public offering which had been set for Friday, due to market conditions, sources told Reuters.
The delay was the latest in a string of postponements and reduced deal sizes this week, the wire service said.
The Glendale firm said in regulatory filings last month that it expected to price the 8 million shares at between of $10 and $12 a share. About half of the shares sold will raise money for the company, which was founded in 1999.
The remaining shares are being sold by longtime venture capital and other backers. The stock’s ticker symbol on the New York Stock Exchange will be LGZ.