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Facebook Inc Raises IPO Range, Targets $12.1 Billion-Reuters


Monday, 14 May 2012 08:44pm EDT 

Reuters reported that Facebook Inc has raised the price range on its Initial Public Offering (IPO) to $34 to $38 a share in response to strong demand, giving Facebook a valuation exceeding $100 billion. At the mid-point of $36, Facebook would raise $12.1 billion by selling 337.4 million shares. Facebook had originally aimed for $28 to $35 a share. Facebook plans to close the books on its IPO on Tuesday, two days ahead of schedule and in a signal that the initial share sale is drumming up strong demand. Facebook is scheduled on Thursday to price its shares, then begin trading on Friday. The IPO is already oversubscribed, which is why Facebook is closing its books earlier than anticipated. A host of Wall Street banks are underwriting Facebook's offering, with Morgan Stanley, JPMorgan and Goldman Sachs serving as leads. Facebook will trade on Nasdaq under the symbol FB. 

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17 Apr 2014