Demand drives up size of Facebook float
Thursday 17 May 2012
Facebook has increased the size of its initial public offering by almost 25 per cent, and could raise as much as $16bn (£10bn) as strong investor demand for a share of the social network trumps debate about its long-term potential to make money.
The additional shares will be sold by early investors including the co-founder of PayPal, Peter Thiel, Accel Partners' James Breyer and investment manager Tiger Global Management.
The company itself has not increased the number of shares it will sell.
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