• Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

  • Long live your gadget

    Real gadget protection tends to cost real money, writes Arthur Goldstuck.

  • Taking SA for a ride

    The ANC seems to think all South Africans are idiots, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

Facebook goes public at $38 per share

May 17 2012 22:59

Related Articles

Apple co-founder gives Facebook a warning

Social gifting

 

New York - Facebook on Thursday announced a price of $38 per share for its record-setting initial public offering, which gives the leading social network a market value of $104bn.

The shares will begin trading on Friday on the Nasdaq, the company said in a statement.

Facebook said about 421 million share of its common stock will be sold at a price to the public of $38 per share. Facebook is offering 180 million and holders of previous shares selling 241 million.

A so-called over-allotment of up to 63 million shares will be made available to the underwriters, a consortium including Morgan Stanley, JP Morgan, Goldman Sachs and others.

That will mean one of the biggest IPOs for a US firm, raising between $16bn and $18.4bn.

Under the share plan, co-founder Mark Zuckerberg will hold 55.8% of the voting power, down slightly from an estimated 57.3%.

The 28-year-old controls the firm through a dual class stock structure and certain shares that give him a "proxy" for voting.

The net proceeds to the company were estimated at $6.4bn.

facebook  |  social media
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...