news4geeks.net
16May/120

Facebook raises IPO price as offering nears

Posted by vica

  • Screens outside the Grauman's Chinese Theatre on Hollywood Blvd. advertise for people to "Become a Fan" of the Theatre on Facebook is seen at the Los Angeles premiere of the film "What to Expect When You're Expecting," Monday, May 14, 2012, in Los Angeles. The social network's stock is expected to start trading on the Nasdaq stock exchange later this week after it's initial public offering. (AP Photo/Danny Moloshok)

Already expected to be the largest-ever initial public offering for an Internet company, Facebook is making its IPO even bigger.

The world's largest online social network on Tuesday increased the planned price range for its stock to $34 to $38 per share in a filing with the Securities and Exchange Commission. That's up from its previous range of $28 to $35. At the upper limit of $38, the sale would raise about $12.8 billion. Read more...