|Social networking giant Facebook on Thursday said it plans to price its initial public offering (IPO) at 28 to 35 U.S. dollars a share.|
U.S. social networking giant Facebook Thursday set the price range of its mega initial public offering (IPO) at US$28 to US$35 per share, which puts the company's market value between US$77 billion to US$96 billion.
According to Facebook's regulatory filing, it is offering 337.4 million shares to sell, with more than half from selling stockholders.
The IPO, scheduled this month, is expected to raise up to US$12 billion at the upper end of its price range. Facebook could raise a maximum amount of US$13.6 billion if an "greenshoe" option is triggered.
Facebook is expected to get about half of the funds raised, which is estimated at about US$10.6 billion at the midpoint of its planned IPO price range. The rest will go to the company's existing shareholders.