By Colin Kellaher

Dating app Bumble Inc. on Monday raised the size and expected price range of its initial public offering.

The Austin, Texas, company owned by Blackstone Group Inc. said it now plans to sell 45 million shares at between $37 and $39 each in the IPO, up from earlier plans to offer 34.5 million shares at between $28 and $30 apiece.

At the $38 midpoint of the new range, Bumble said it now expects proceeds of about $1.63 billion, or roughly $1.88 billion if the underwriters exercise an option to buy an additional 6.75 million shares.

Bumble said Blackstone, which currently holds about 87.1% voting power, will still hold 79.5% after the IPO, assuming exercise of the overallotment option, while founder Whitney Wolfe Herd will hold 16% voting power.

Bumble's IPO is expected to price later this week.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

02-08-21 0649ET