(Bloomberg) -- Marketing and data automation provider Klaviyo Inc. is planning to sell shares in its initial public offering at the top of or above the marketed range, according to people familiar with the matter.

The Boston-based company is deciding whether to price the shares at either $29 or $30 each, said the people, who asked not to be identified because the information wasn’t public yet. Klaviyo and its existing stockholders have been marketing 19.2 million shares for $27 to $29 each.

Investors have placed orders for about 25 times the amount of stock on offer, the people said. The exact price hasn’t been set yet and could still change when the company and its advisers meet later Tuesday to finalize pricing, the people said.

A representative for Klaviyo declined to comment. 

The offering is being led by Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. Klaviyo’s shares are expected to begin trading Wednesday on the New York Stock Exchange under the symbol KVYO.

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