Thursday, May 3, 2012

Reuters: Technology News: Facebook plans to raise up to $12 billion in mega IPO

Posted by Isabella on 2:00 PM

Reuters: Technology News
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Facebook plans to raise up to $12 billion in mega IPO
May 3rd 2012, 20:39

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An illustration picture shows the log-on screen for the website Facebook, in Munich February 2, 2012. REUTERS/Michael Dalder

1 of 2. An illustration picture shows the log-on screen for the website Facebook, in Munich February 2, 2012.

Credit: Reuters/Michael Dalder

By Alexei Oreskovic and Alistair Barr

Thu May 3, 2012 3:13pm EDT

(Reuters) - Facebook Inc plans to price its initial public offering at a high-$20s to mid-$30s per-share range in its initial public offering later this month, according to a person familiar with the matter.

The price range would value the world's No. 1 Internet social networking company between $85 billion and $95 billion, according to a report in the Wall Street Journal, which first reported the news on Thursday.

Facebook, which plans to list its stock on the Nasdaq under the ticker "FB", will begin meeting with investors on Monday to promote what is expected to be the largest offering in Silicon Valley history.

(Reporting by Edwin Chan; Editing by Gerald E. McCormick)

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