Print 24 comment(s) - last by deathwombat.. on May 16 at 3:47 PM

Facebook is now looking to raise about $12 billion

Facebook's $100 billion initial public offering (IPO) was already set to be one of the largest IPO's in the tech industry, but now, the social network is looking to surpass the $100 billion mark by raising another $12 billion.

According to a filing with the U.S. Securities and Exchange Commission, Facebook increased the price target range from $28-$35 per share to $34-$38 per share today. This values Facebook at about $93 billion to $104 billion, exceeding the $100 billion mark.

At about $36 per share, Facebook would raise $12.1 billion.

Social networking giant Facebook revealed that it was planning a 2012 IPO back in November 2011. The company was talking about raising $10 billion for the initial public offering. Many had previously thought a 2011 IPO was in the works, but a shaky economy and ongoing privacy battles with the U.S. government put everything on hold.

In February 2012, Facebook made the IPO official. The company said it was looking to sell $5 billion of its private shares and hoped to be valued at $100 billion.
The set date for the company to go public was May 18.

The social network plans to complete the IPO later today, which is two days ahead of schedule. Facebook is expected to price its shares on Thursday and begin trading under the ticker "FB" on Friday.

Facebook's IPO is the largest ever to come out of Silicon Valley. In 2004, Google raised nearly $2 billion. Last year, Groupon raised $700 million and Zynga raised $1 billion.

After the IPO is completed and Facebook begins trading, the social network plans to sell 12.3 percent of the company, or $337.4 million shares.

Source: Reuters

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337.4 million shares?
By althaz on 5/15/2012 10:54:37 AM , Rating: 2
337.4 million shares? Or $337.4 million WORTH of shares? Just curious as to which one you meant :).

I hate nitpicking, but I actually want to know, I'm assuming the former.

RE: 337.4 million shares?
By leviathan05 on 5/15/2012 11:19:13 AM , Rating: 2
Well, if the company is valued at $100 billion, and they sell 12.3% of the company, does that equal anywhere close to $337.4 million?


If you sell 337.4 million shares at ~ $36 per share, does that equal 12.3% of $100 billion?


Math and logic are your friends.

RE: 337.4 million shares?
By kattanna on 5/15/2012 11:39:07 AM , Rating: 2

speaking of math.. that dilbert cracks me up

RE: 337.4 million shares?
By deathwombat on 5/16/2012 3:47:44 PM , Rating: 2
I was thinking more of this one:

"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il

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