initial public offerings (IPOs) trading on American exchanges

Wednesday, April 18, 2012

Facebook targets May 18th for IPO date

According to multiple sources close to the company, Facebook is eyeing IPO on May 18th — depending on whether the SEC agrees that all the reams of paperwork (including those concerning its recent acquisition of Instagram) are in order.

According to our sources, Facebook will be valued at around $100 billion, reflecting current levels of trading in the secondary markets (and avoiding SEC scrutiny). Other reports say that the company wants to raise $10 billion at a $100 billion valuation.

With 2.51 billion fully-diluted shares outstanding, the valuation desired would price the company at around $40 a share.

The Millennial Media IPO was pushed up to early April because Morgan Stanley and Goldman Sachs, which were underwriting both offerings, wanted to “make room” for Facebook.

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