(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