Facebook could raise $11 billion in upcoming IPO
Menlo Park, CA, United States (AHN) – Facebook has released details of pricing for its upcoming initial public offering.
In a regulatory filing Thursday, the social networking company said it plans to sell shares between $28 to $35 each. The IPO will raise some $10.6 billion for the company, based on the midpoint range, making it the fifth largest IPO in history, according to Renaissance Capital.
The price also values Facebook at $86.2 billion, making it the most valuable company to ever go public.
Facebook is set to launch its road show Monday, in which it sets out to visit various cities around the U.S. and pitch its shares to private investors.
Some industry analysts were surprised by the “low” price range, but say subdued market sentiment may have led underwriters to keep the IPO price somewhat low.
But, the Facebook IPO has certainly drew a great deal of interest and experts expect shares to soar after its debut.
Shares will trade on NASDAQ under the symbol FB. The anticipated date is May 18.