After shying away from the public markets for years, Facebook is ready for its debut.
On Thursday, Facebook set the estimated price for its initial public offering at $28 to $35 a share, according to a revised prospectus. At the midpoint of the range, the social networking company is on track to raise $10.6 billion, in an debut that could value the company at $86 billion.
The company is finalizing its prospectus, as it prepares for a road show to meet investors in cities like New York, Boston, San Francisco, Chicago, and Baltimore.
On Friday, Facebook executives will meet in New York with the sales forces of the company’s underwriters to brief them on the I.P.O. presentation, according a person with knowledge of the matter. Those salespeople will then reach out to prospective investors to begin shopping the offering. The I.P.O. has attracted a small army of 33 underwriters, led by Morgan Stanley, JPMorgan Chase and Goldman Sachs.
Read the full story at The New York Times.
On Thursday, Facebook set the estimated price for its initial public offering at $28 to $35 a share, according to a revised prospectus. At the midpoint of the range, the social networking company is on track to raise $10.6 billion, in an debut that could value the company at $86 billion.
The company is finalizing its prospectus, as it prepares for a road show to meet investors in cities like New York, Boston, San Francisco, Chicago, and Baltimore.
On Friday, Facebook executives will meet in New York with the sales forces of the company’s underwriters to brief them on the I.P.O. presentation, according a person with knowledge of the matter. Those salespeople will then reach out to prospective investors to begin shopping the offering. The I.P.O. has attracted a small army of 33 underwriters, led by Morgan Stanley, JPMorgan Chase and Goldman Sachs.
Read the full story at The New York Times.