LinkedIn said shareholders will unload more than 6.7 million shares in a planned equity sale, with private equity firm Bain Capital - one of its early investors - shedding its entire stake.

LinkedIn will pair the stock from the selling shareholders with its plans to sell another $100m in equity, which the social networking company first unveiled earlier this month. Yesterday, LinkedIn said it would sell a minimum of about 1.3 million shares, or roughly $100.4m worth at its latest closing price.