Wearable fitness tracker Fitbit IPO priced at $20 per share

(Reuters) - Fitbit Inc , a maker of wearable fitness tracking devices, priced its initial public offering at $20 per share, valuing the company at about $4.1 billion. Fitbit's IPO raised $731.5 million, after its initial public offering of nearly 36.6 million shares was priced above its expected price range. The company on Tuesday expected the IPO to be priced between $17 and $19 per share. Fitbit makes both wrist bands and clippable devices that monitor a user's fitness activity by tracking the calories burned or distance covered, among other things. The company's shares are expected to start trading on Thursday on the New York Stock Exchange under the symbol "FIT". Morgan Stanley, Deutsche Bank Securities and Bank of America Merrill Lynch were among the underwriters for the offering. (Reporting by Sudarshan Varadhan and Shubhankar Chakravorty; Editing by Ken Wills)