Facebook Sets IPO Price Between $28-$35; Below What Many Expected
Submitted by News Desk 2 on Thu, 05/03/2012 - 22:16
New York City -
Facebook has set a price range between $28-$35 for its IPO stock sale and will use the ticker symbol FB. At the midpoint of that price, it would give Facebook a valuation of about $86 billion. This is well below what may analyst had expected, who foresaw a value at around $100 million.
Despite the lower than expected price, it will still be the fifth largest IPO in the United States, and will be the largest valued company to ever go public in the US. "I'm surprised they took it down," says Josef Schuster of IPO tracking firm IPOX Schuster.