5:35 AM
about.in
Facebook would be submitting the initial paperwork for the $5 billion IPO today, according to a latest reportfrom the Reuters. The social network is expected to raise as much as $10 billion, which will value the company at $75 billion to $100 billion, making it one of the largest IPOs.
The $5 billion is a preliminary target and could be further boosted in the coming months, in response to investor demand. The Facebook IPO will dwarf almost any before that, including Google Inc’s $2 billion IPO, the IFR reports.
The social network has selected Morgan Stanley as the lead adviser for the IPO. Morgan Stanley had earlier lead the IPOs of Internet giants Groupon and Zynga. Other banks that would be participating in the Facebook IPO, include Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan.
Facebook’s highly-anticipated IPO would provide the company with funds needed to continue its expansion and stave off competition from other Internet majors such as Google and Twitter. Analysts state that Facebook may set its price at the low end of the valuation range to entice investors.
Posted in: Facebook
0 comments:
Post a Comment