Media News - Wednesday, February 01, 2012
Will Facebook deliver an IPO surprise?
Facebook, the social network that changed "friend" from
a noun to a verb, is expected to file as early as Wednesday to sell
stock on the open market. Its debut is likely to be the most
talked-about initial public offering since Google in 2004.
The Menlo Park, Calif.-based company expects to raise as much as USD 10bn, though some accounts say it could be less than that. At USD 10bn, the company would be valued at USD 75bn to USD 100bn.
The highly anticipated documents Facebook files with the Securities and
Exchange Commission will reveal how much it intends to raise from the
stock market, what it plans to do with the money and details on the
company's financial performance and future growth prospects.
A stock usually starts trading three to four months after the filing.
Around the nation, regular investors and IPO watchers are anticipating
some kind of twist — perhaps a provision for the 800 million users of
Facebook, a company that promotes itself as all about personal
connections, to get in on the action. (AP)
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