Facebook raises initial IPO offering
Facebook raises IPO
Posted: 05/15/2012
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By: Charley Crowson
New York - The social networking company said in a regulatory filing Tuesday that it expects to sell its stock for between $34 and $38 per share. That's higher than a previous range of $28 to $35.
The increased range is a sign of high demand from investors to own a piece of the world's most popular social network. The initial public offering is the most hotly anticipated in years and would value Facebook at more than $100 billion. The offering is expected to happen Friday.
Facebook has more than 900 million users who log in at least once a month.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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