Facebook raises IPO price as offering nears
Tuesday 15 May 2012
Facebook is raising the price at which it plans to sell stock to the public.
The social networking company said in a regulatory filing today 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 on Friday.
Facebook has more than 900 million users who log in at least once a month.
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