Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

The hunter hunted

Read more

MEDIAWATCH

The hunter hunted

Read more

THE DEBATE

The Allure of Trade: French Foreign Minister seeking closer ties with Tehran part 2

Read more

THE DEBATE

The Allure of Trade: French Foreign Minister seeking closer ties with Tehran part 1

Read more

FOCUS

Colombian community takes on drug gangs

Read more

THE INTERVIEW

Tony Parker backs France to retain European title

Read more

ENCORE!

The films of summer 2015

Read more

MIDDLE EAST MATTERS

Israel mulls force-feeding Palestinian prisoners on hunger strike

Read more

EYE ON AFRICA

Obama addresses African Union

Read more

Americas

Facebook expected to file for public offering

Video by Karen Creed

Text by News Wires

Latest update : 2012-02-01

Facebook is expected to file a prospectus with the US Securities and Exchange Commission Wednesday for an initial public offering that could raise five to ten billion dollars, according to estimates.

AFP -  Facebook will set a target of raising $5 billion in papers to be filed on Wednesday for an initial public offering, according to reports on Tuesday.

The New York Times and International Financing Review said $5 billion is only a preliminary target for the IPO by the social networking giant and the final size could be larger.

Last week, The Wall Street Journal reported that Facebook would seek to raise $10 billion at a valuation of $75 billion to $100 billion.

The Times noted that other Internet companies have raised their fund-raising targets after gauging investor demand.

Facebook is expected to file a prospectus with the US Securities and Exchange Commission on Wednesday for an IPO that analysts have said would likely be the biggest financial event for the technology industry this year.

The Times, citing people briefed on the matter, said Facebook plans to file for the IPO on Wednesday but it "could still decide to delay its filing."

Both the Times and IFR said Morgan Stanley had been selected as the lead underwriter for the deal.

With a deal size of $10 billion, Facebook would slip into sixth place on the list of largest US IPOs between AT&T Wireless Group ($10.62 billion) and Kraft Foods ($8.68 billion), according to Renaissance Capital.

Even at $5 billion, it would be the largest IPO ever by a US Internet company, eclipsing that of Google in 2004 which raised $1.9 billion and valued the Web search giant at $23 billion.

Date created : 2012-02-01

  • Facebook

    Facebook settles privacy case with FTC

    Read more

  • TUNISIA

    Baguette-wielding superhero is Facebook sensation

    Read more

  • FRANCE

    Bloggers mock France over Facebook airwaves ‘ban’

    Read more

COMMENT(S)