×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Facebook | Orders | IPO | shares

Facebook Said Set to Finish Taking Orders for IPO Tuesday

Monday, 14 May 2012 07:03 AM EDT

Facebook Inc. plans to stop taking orders for its initial public offering by tomorrow, two days ahead of schedule, according to a person with knowledge of the transaction.

The world’s biggest social network will probably finish taking orders for the IPO after U.S. markets close tomorrow, said the person, who declined to be identified because the plans are private. Menlo Park, California-based Facebook is offering about 337 million shares at $28 to $35 each.

The world’s most popular social-networking site, led by Chief Executive Officer Mark Zuckerberg, is seeking a market value of as much as $96 billion. In a Bloomberg Global Poll of 1,253 investors, analysts and traders, 79 percent said Facebook doesn’t deserve a valuation so high.

Facebook would surpass United Parcel Service Inc. as the most valuable company in history to go public in the U.S., according to data compiled by Bloomberg and Dealogic. UPS completed an IPO in 1999 with a market value of about $60.2 billion, the data show.

Facebook initially planned to finish taking orders on May 17, data compiled by Bloomberg show. The shares will be listed on the Nasdaq Stock Market under the symbol FB. Morgan Stanley, JPMorgan Chase & Co. and Goldman Sachs Group Inc. are the lead managers for the sale.

Jonathan Thaw, a spokesman for Facebook, didn’t answer a call outside of regular business hours.


© Copyright 2023 Bloomberg News. All rights reserved.


226
2012-03-14
Monday, 14 May 2012 07:03 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved