15th May 2012 | Comments
The public offering by Facebook has been much hyped and even more awaited. The company had originally announced to offer 337.45 million shares at the price of $28-$35 increasing the companies worth by approximately $13 billion. On Tuesday, however, the company confirmed numerous reports of the share price going up.
Facebook now has put the range at $34 to $38, according to an amended S-1 it filed Tuesday morning. Additionally, Facebook is now offering 50 million more shares, bringing to total to 388 million for a maximum haul of $14.7 billion. If the company’s shares are sold for that price (or higher), then it’s valuation will cross the $100 Billion mark.
The company said strong demand had pushed up the price. The long-awaited IPO is set for Friday, according to reports.
UPDATE: The company will add about 85 million more shares to its offering, totaling about 422 million shares. The 25% increase in the offering is expected to raise close to $15 Billion.
UPDATE (May 17): A report by WSJ suggests the price of the share is going to be $38. This will price the IPO has a staggering $18.4 billion!
UPDATE (May 18): Facebook just went public. Current valuation of the company is $104 Billion.