Facebook to Set I.P.O Price Range After Market Close

Tags: facebook finance IPO

Facebook is expected on Thursday to set the estimated price range for its initial public offering, a debut that could value the sprawling social network at nearly $80 billion or more.

The target, which will be included in a revised prospectus filing, should be in the high $20s to mid $30s range, according to a person with knowledge of the matter. Facebook is looking to sell a little more than 10 percent of its shares and could raise $10 billion in the offering, the person added.

The giant social network will also begin preparations for its I.P.O. roadshow on Friday, this person added. Facebook executives will hold meetings with the underwriters’ sales forces in New York on Friday, to brief them on the company’s presentation. The sales forces will then reach out to prospective investors to begin shopping the offering…

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