Pinterest declares to increase price of IPO at $19 per share

Pinterest Inc, the online scrapbook where users save ideas for clothes, décor and recipes, said on Wednesday said that it priced its initial public offering at $19 per share, above its $15-$17 target range. At this price, Pinterest raised around $1.4 billion at a roughly $12.6 billion valuation, taking into account restricted stock units and options.

The company is due to start trading on the New York Stock Exchange on Thursday under the symbol "PINS".