Facebook To IPO At $38 A Share Tomorrow, Confirms $100+ Billion Valuation
Facebook (NASDAQ: FB) just announced final details of its hotly anticipated IPO. The company will offer 421,233,615 shares of its common stock at a price to the public of $38 per share, and is expected to begin trading on the NASDAQ Global Select Market on May 18, 2012, under the symbol “FB.”
At that share price, the company’s valuation sits somewhere around $104.12 billion. The company will raise as much as $16 billion from the sale of its initial shares, making this the biggest tech IPO in history.
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According to Reuters, Facebook’s IPO will be larger than HP and Dell’s IPOs combined. The social networking behemoth’s $18 billion offering is a full ten times larger than Google’s $1.67 billion IPO in 2004.