LinkedIn is planning to sell about $1bn worth of shares following a fivefold rise in shares since its initial public offering two years ago.
The professional-networking website said it would sell 4.17 million shares of its Class A stock to its underwriters to improve its financial flexibility and stimulate expansion.
The sale will be underwritten by J.P. Morgan, Morgan Stanley, Goldman Sachs, Bank of America Merrill Lynch, and Allen & Co.
In a statement, LinkedIn said it intends to use the proceeds for expansion, product development, general administrative matters among other things.
"It may also use a portion of the net proceeds from the offering for potential strategic acquisitions of, or investments in, complementary businesses, technologies or other assets," the statement added.
During the second quarter of 2013, the professional social network reported a 59% growth in revenues to $363.7m, compared to $228.2m generated during the same period last year.
The firm said it expects generate revenue in the range of $367m and $373m during the third quarter of 2013.
Recently, LinkedIn revealed plans to reduce its minimum age requirements in efforts to expand its reach.
The website is raising its age limit to 14-year-olds in the US and 13-year across other regions including the UK, as it introduces a new feature known as University Pages.