Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

A landslide victory for the 'invisible candidate' in Algeria's Presidential polls

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014 (part 2)

Read more

MEDIAWATCH

Presidential adviser resigns over "shoe-shine scandal"

Read more

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

FASHION

Jean-Marc Loubier, bags and shoes.

Read more

ENCORE!

Hip-hop musician Beat Assailant on mixing the sounds of the city

Read more

  • French journalists abducted in Syria freed

    Read more

  • South Korea ferry captain defends decision to delay evacuation

    Read more

  • Bouteflika, the ghost president

    Read more

  • Does Valls’ upcoming Vatican trip violate French secularism?

    Read more

  • Ukraine separatists say ‘not bound’ by Geneva deal

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • Obama signs bill to block controversial Iran diplomat from UN post

    Read more

  • Ukraine: ‘One bloody incident could scupper Geneva deal’

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • Indian election: Votes for sale

    Read more

  • World honours Garcia Marquez’s magical literary legacy

    Read more

  • Algeria's ailing Bouteflika clinches fourth term amid fraud claims

    Read more

  • Top Hollande adviser resigns over conflict of interest accusation

    Read more

  • West African Ebola outbreak caused by new strain of virus

    Read more

  • Video: Tensions remain high in Mariupol despite Geneva deal

    Read more

  • In Prijedor, survivors fight to keep memory alive

    Read more

  • With a strong French presence, veterans and fresh faces, Cannes aims to please

    Read more

  • Mob launches deadly attack on UN shelter for S. Sudan civilians

    Read more

  • Eurostar train mishap causes 'severe' delays

    Read more

  • French troops free five aid workers kidnapped in Mali by Islamists

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • Belgian head of wildlife reserve shot in DR Congo

    Read more

  • Stagehand of God? Maradona's legendary goal inspires a play

    Read more

Business

Facebook aims to raise up to $12 billion in record IPO

©

Text by News Wires

Latest update : 2012-05-03

Facebook, Inc. plans to raise as much as $12 billion in Silicon Valley's largest-ever initial public offering on Thursday, with shares going for $28 to $35 and investors expected to turn out en masse.

REUTERS - Facebook Inc plans to raise as much as $12 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world's largest social network a market value close to Amazon.com's.

The eight-year-old social network that began as Mark Zuckerberg's Harvard dorm room project priced its initial public offering at between $28 and $35 a share on Thursday, attaining a valuation of as much as $95.9 billion at the high end.

If an over-allotment or "greenshoe" option is triggered, the company could end up raising close to $13.6 billion, according to a Thursday prospectus.

Investors are expected to flock to the highly anticipated IPO, though some have voiced concerns about the social network's longer-term growth.

Last week, Facebook reported its first quarter-to-quarter revenue slide in at least two years, a sign that the social network's sizzling growth may be cooling just as it prepares to go public. Its stock should begin trading in about a week or two.

Facebook, which plans to list its stock on the Nasdaq under the ticker "FB", will begin meeting with investors on Monday.

Facebook's capital-raising target far outstrips big Internet IPOs that came before it. Google raised just shy of $2 billion in 2004, while last year Groupon tapped investors for $700 million and Zynga raked in $1 billion.

At close to $100 billion, Facebook's capitalization will rival Amazon.com's and Cisco Systems Inc's market values of just over $100 billion, while surpassing those of older technology companies such as Hewlett-Packard Co and Dell Inc put together.
 

Date created : 2012-05-03

  • INTERNET

    Five questions on Facebook's IPO

    Read more

  • BUSINESS-TECHNOLOGY

    Facebook embarks on largest-ever US tech IPO

    Read more

  • Facebook

    Facebook settles privacy case with FTC

    Read more

Comments

COMMENT(S)