Vacation-rental website HomeAway intends to sell up to an estimated $230 million of common stock in an IPO, The Wall Street Journal reports. The company plans to use the proceeds to redeem preferred stock and pay dividends on preferred shares, for general corporate purposes.

Morgan Stanley will lead the IPO, which is expected to take place by June, adds Bloomberg. The company is also working with Deutsche Bank, Goldman Sachs and JPMorgan Chase.

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