MUMBAI: Social networking site Facebook has said it will offer a total of 337.41 million shares as part of its first ever initial public offering with the price per share fixed between $28-35.
The company will be able to raise $11.8 billion at the top end and 9.45 billion at the lower end of the price band.
Even at $11 billion, the IPO would be fourth-largest in U.S. history after Visa Inc, General Motors, and AT&T Wireless.
The company, which had in February filed for a $5 billion IPO with the Securities and Exchange Commission in United States, is expected to go public on 18 May. The stock will be listed on Nasdaq under the symbol ‘FB‘.
Launched in 2004, the social networking giant commands an active user base of over 800 million with revenues of $3.71 billion and a net profit of $1 billion last year.
Ahead of its IPO, Facebook has launched a 30-minute video about its ‘IPO roadshow‘ which features Zuckerberg talking about the company‘s growth and future prospects.
Facebook‘s executives like chief operating officer Sheryl Sandberg and finance chief David Ebersman will do a roadshow of New York, Boston, and Chicago convincing potential investors about the company.
The company has appointed Morgan Stanley, Goldman Sachs and JPMorgan as its lead underwriters. Other bookrunners who were appointed to manage the IPO included Bank of America Merrill Lynch, Barclays Capital and Allen & Co.
