Online car seller Autobytel raised the price of its shares for its Initial Public Offering on Friday to $23 in the hope of cashing in on the hot market for Internet IPOs.
The company expects to sell 4.5 million shares and expects to raise $103.5 million.
This is the second time Autobytel has raised its IPO price, after increasing it from between $16-18 to between $20-22 only a few days ago.
The latest increase follows the successful IPO of rival Autoweb.com, which had started at $14, but saw its stock rocket to $40 on its opening day.
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