By Poornima Gupta
Electric carmaker Tesla Motors Inc(TSLA.O) priced shares in its initial public offering above the expected range on Monday, according to a market source.
The company, known for its $109,000 Roadster, sold 13.3 million shares for $17 each, the source said, raising about $226 million. It raised the number of shares it hoped to sell by 20 percent. It had planned to sell 11.1 million shares for $14 to $16 each.
Reuters reported earlier on Monday that investors were willing to pay $17 a share.
Continue reading Tesla Prices at $17 in Upsized IPO
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