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Facebook's $18.4 bln IPO opens today

Source : IBNS
Last Updated: Fri, May 18, 2012 04:43 hrs

The initial public offering (IPO) of Facebook is set for listing on Friday with the social networking site expected to raise up to $18.4 billion.

Facebook is selling an up to 18 percent stake at a valuation of $104 billion in an IPO that is the largest by a U.S. Internet company and the second-largest in U.S. history after Visa.

The Palo Alto, California-based company will become the first U.S. company to be worth more than $100 billion at its stock opening when it begins trading on the Nasdaq on Friday.



Investors are expected to scramble to take a piece of the eight year-old Internet giant found by Mark Zukcerberg, sending shares well above their issue of price of $38.

Analysts were divided on the day one jump the share might see as some expected a humble 10 to 20 percent gain while others predicted at least 50 percent.

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