Facebook has officially announced its initial public offering (IPO) after months of rumor and speculation. Facebook stock will begin trading May 18.
Here is some of the basic information:
Facebook will begin pricing its shares May 17, the day before the shares are traded live.
Stock will be traded on the NASDAQ under the symbol ‘FB’
Facebook will issue 337.4 million shares, and is asking for a stock price around $28-35.
It’s nice to finally know that they will officially trade in a few weeks. While the $100 billion valuation had been rumored, it seems that Facebook is more likely to be valued between $80-$92 billion according to their range of expected stock prices and potential outstanding shares. While the IPO is certainly important, the biggest news will come whether Facebook can remain profitable after going public, after many other tech companies, like Groupon, have floundered after its IPO.