Facebook IPO Exceeds $100 Billion Mark
May 15, 2012 10:37 AM
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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.
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RE: Over valued
5/15/2012 12:02:48 PM
I'm not sure what you mean by marketed here, but if you think anyone in the public can get in on this IPO, that's actually not true. Unless you are part of the "public" that has a multi-million dollar investment account at one of the underwriting firms, you will not be a part of this IPO.
This IPO is so publicized because it is the largest in a long time and it revolves around a company that a large portion of the world's population is associated with.
"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
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