Business News
Report: Facebook to file for 5-billion-dollar IPO Wednesday
Jan 31, 2012, 23:08 GMT
San Francisco - Facebook is to file initial paperwork Wednesday for a 5-billion-dollar IPO, The New York Times reported Tuesday.
The report said that the social-networking company would use the 5-billion-dollar mark as an initial goal, and that the final figure could differ significantly.
The report said that Facebook had picked Morgan Stanley as lead underwriter.
Earlier reports had indicated that Facebook would seek to raise 10 billion dollars on the public share market at a price that would value the company at 10 billion dollars.
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