By Marcus Leach

Business networking site LinkedIn has seen such demand for its shares that the company has raised the price range for Thursday's initial public offering (IPO).

Initially the range was set at $32 to $35, but increased demand has seen that change to a range of $42 to $45. Only $200 worth of shares are being sold, despite the range putting the companies value at $4 billion.

With Facebook and Twitter both expected to seek stock market listings in the coming two years LinkedIn will be the first US social networking site to attain a share listing.

The new range of prices on stocks values LinkedIn at roughly seventeen times its total earnings from 2010, which is still only around half of the valuation given to Facebook.