Facebook value could top $100 billionTuesday 15 May 2012 13.24
Facebook has bumped up the price it plans to charge for shares at its stock market debut, giving the leading social network a value that could top $100 billion.
Facebook will price its initial public offering (IPO) from $34 to $38 per share, instead of the previously proposed $28 to $35 range, according to paperwork filed early today with the US Securites and Exchange Commission.
The raised IPO share price reflects confidence in demand for Facebook stock and gives the Menlo Park California-based company a value of between $93 and $104 billion.
At the higher end of the price range, Facebook could raise nearly $15 billion through the stock sale, with a large chunk of the cash going to its early backers and employees compensated with stock.
Facebook was already assured of becoming the most valuable US Web company at the time of an IPO, topping Google's $23 billion valuation in 2004.
Facebook will trade under the symbol "FB" on the technology-heavy Nasdaq. Trading is expected to begin on Friday.
Under a dual-class stock structure, Facebook founder and chief executive Mark Zuckerberg retains 57.3% of the voting power of the shares.