Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Mali: Jihadist group announces death of french hostage

Read more

AFRICA NEWS

Tutu cautions ANC: South African peace laureate criticizes ruling party

Read more

MEDIAWATCH

Clamping down on jihad propaganda online

Read more

DEBATE

Homegrown Jihadists: France Sets Out Plan to Monitor Web and Support Families (part 2)

Read more

DEBATE

Homegrown Jihadists: France Sets Out Plan to Monitor Web and Support Families

Read more

WEB NEWS

Ukrainians turn Russian 'evidence' into meme

Read more

FOCUS

Copenhagen seeks to decriminalise use of cannabis

Read more

FACE-OFF

French president's advisor resigns: A new blow for François Hollande

Read more

ENCORE!

Films as plays, plays as films and TV at the cinema

Read more

  • Fatah, Hamas agree to form Palestinian unity government

    Read more

  • Britain's ex-PM Blair warns against spread of radical Islam

    Read more

  • Madrid beat Bayern 1-0 in first leg of Champions League semis

    Read more

  • New far-right mayor moves to quash Paris region mosque

    Read more

  • Turkish PM offers condolences to descendants of Armenians killed in 1915

    Read more

  • Gay marriage, one year on: ‘French civilisation did not crumble’

    Read more

  • Colombian president reinstates firebrand Bogota mayor

    Read more

  • NYPD public relations campaign on Twitter goes awry

    Read more

  • Russia vows to respond if 'attacked' in Ukraine

    Read more

  • In pictures: Violent protests erupt in Rio

    Read more

  • French hostage Gilberto Rodrigues Leal has died, Islamists say

    Read more

  • 'Pope-mania' hits John Paul II's Polish hometown

    Read more

  • French actress Catherine Deneuve to sell €4 million château

    Read more

  • Chelsea, Atletico draw 0-0 in first leg of Champions League semis

    Read more

  • Ukraine to relaunch offensive in the east after politican 'tortured'

    Read more

  • Echoes of 2pac and Biggie? French rap feud turns violent

    Read more

  • New French film tackles grisly anti-Semitic murder

    Read more

Americas

Facebook embarks on largest-ever US tech IPO

©

Text by News Wires

Latest update : 2012-02-02

Facebook filed for a public offering in the US on Wednesday. Founder and CEO Mark Zuckerberg will own 56.9% of the voting shares and have economic control of 28% of shares in a company expected to be worth up to 100 billion dollars.

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 : 2012-02-02

  • FACEBOOK

    Facebook expected to file for public offering

    Read more

  • TUNISIA

    Baguette-wielding superhero is Facebook sensation

    Read more

  • FRANCE

    Bloggers mock France over Facebook airwaves ‘ban’

    Read more

Comments

COMMENT(S)