(NEW YORK) — Facebook announced that it is raising as much as $11.8 billion in stock, which would make this the biggest Internet IPO since Google’s in 2004, with an offering price between $28 and $35 a share.
The company filed with the Securities and Exchange Commission on Thursday afternoon, stating it will sell 337 million shares. The share price range could value the company from $85 billion to $95 billion, The Wall Street Journal reported.
In the build-up of events leading to Facebook’s initial public offering of its stock, what happens next is the “road show”—usually a two-week, multi-city tour by top management, where potential buyers get the chance to ask questions. These events are by invitation only.
Copyright 2012 ABC News Radio
Tara Bench, KSL.com
Sarah Anderson, Deseret News
Susie East, CNN
Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN