Washington, May 4 (ANI): Facebook might be valued at upto 96 billion dollars when it sells its shares to investors this month in a record-breaking flotation.
According to a filing made by Facebook with US financial regulators, the social-media site may end up raising as much as 13.6 billion dollars for the company, its employees and existing shareholders.
The world's largest social networking site is seeking to sell as many as 388 million shares for up to 35 dollars each, the top end of a range of 28 dollars to 35 dollars that it initially had set out on.
Founder Mark Zuckerberg, whose stake could be worth up to $18.7bn based on the high end of Facebook's range, and the company's bankers, led by Morgan Stanley, will embark on a two-week long pitch to the potential investors over the next two weeks. The final pricing is expected on May 17, with the shares starting trading the next day.
The flotation will be the largest ever by an internet company, and Facebook's valuation will outmuscle many household names on Wall Street's S and P 500 index. (ANI)