Green Dot Increases Size of IPO

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In the second local IPO in as many weeks, shares of prepaid debit card provider Green Dot Corp. are expected to hit the markets this week in a larger than anticipated offering.

The Monrovia company in a regulatory filing late Monday raised the number of shares in the initial public offering from 3.9 million shares to 4.2 million shares, an indication of strong investor interest.

The company earlier this month said it expected to price share at $32 to $35, with all shares to be sold by officers and other insiders. At the midpoint of the range, the expanded IPO could raise roughly $140 million.

Green Dot’s prepaid debit cards are sold and can be reloaded at retail chains such as Wal-Mart, which is an investor in the company. The company has been approved to list its shares on the New York Stock Exchange under the symbol GDOT.

The offering follows last week’s successful debut of Beverly Hills 3D movie technology provider RealD Inc., which saw its shares jump more than 22 percent from its initial $16 offering price on its first day of trading Friday. RealD shares gained another 2 percent on Monday to close at $19.85 on the New York Stock Exchange.

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