LeapFrog Sets Share Price for Proposed IPO

LeapFrog Enterprises Inc., a developer of interactive-learning tools backed by Michael Milken and Oracle Corp. Chairman Larry Ellison, on Monday filed details for a proposed initial public stock sale.

The firm, based in Emeryville, Calif., said it hoped to sell 9 million Class A shares at $13 to $16 each, raising as much as $138 million to repay debt and fund growth. The details were in a Securities and Exchange Commission filing.

LeapFrog, which develops educational software geared toward young children, will remain majority-owned by Knowledge Universe, a firm controlled by Ellison and the Milken brothers, Michael and Lowell, after the offering.

The New York Stock Exchange has approved listing LeapFrog Class A shares under the symbol LF, the filing said. The deal will be underwritten by Merrill Lynch & Co. and Salomon Smith Barney.