Facebook Sets $35 IPO Range

Friday, May 4, 2012

Facebook Sets $35 IPO Range

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Facebook has plans to sell about 337.4 million shares at $28 to $35 apiece, according to the filing Thursday, seeking to raise as much as $11.8 billion in its initial public stock offering.

That range could value the company as high as $95 billion. The company was said to be looking initially for a valuation as much as $100 billion.

Facebook is only getting about half, or $5.9 billion, of the estimated $11.8 billion that it would raise at the midpoint of its planned IPO range. The rest will go to some existing shareholders.

Facebook is expected to start trading its stock for the first time in a couple of weeks.