May 04, 2012, 03:26 PM
Facebook Sets I.P.O. Price Range at $28 to $35
3:43 p.m. | Updated After shying away from the public markets for years, Facebook is ready for its debut.On Thursday, Facebook set the estimated price for its initial public offering at $28 to $35 a share, according to a revised prospectus. At the midpoint of the range, the social networking company is on track to raise $10.6 billion, in an debut that could value the company at $86 billion.
The company is finalizing its prospectus, as it prepares for a road show to meet investors in cities like New York, Boston, San Francisco, Chicago, and Baltimore.
On Friday, Facebook executives will meet in New York with the sales forces of the company's underwriters to brief them on the I.P.O. presentation, according a person with knowledge of the matter. Those salespeople will then reach out to prospective investors to begin shopping the offering.
The filing on Thursday is the first time Facebook has officially indicated where its shares will be valued. The company is expected to begin trading on the Nasdaq, under ticker "FB," in two weeks, following an eight- to nine-day road show, according to people familiar with the matter. Given that time frame, Facebook should begin trading May 17 or May 18, these people added.
Investors have been eagerly awaiting the Facebook offering, which is on track to be the largest Internet I.P.O. on record, trumping the debut of Google in 2004. They are lured by the prospect of strong growth: in the first quarter, Facebook's daily active users, a measure of engagement, increased by 41 percent, to 526 million.
Still, Facebook is experiencing the growing pains typical of a technology start-up. While revenue continues to rise, profit sputtered in the first three months of the year, falling 12 percent, to $205 million, as expenses jumped significantly
What do you think? buy in as soon as its opens.
May 04, 2012 03:26 PM
May 05, 2012, 05:59 AM
Well I went downto wells Fargo to get all the paper work I needed done so I can buy some facebook stock. Well I never felt so out of place in my life and I have done twodeployments to Iraq and Afghanistan, this person at wells Fargo told me infront of my wife that our money was no good there because I couldnít write acheck for $25,000. She told me they donít like to open up a new account forsomeone if they donít have that much to put in. all I wanted to buy was 100 shares.I guess Iím good enough to go overseas for a year but my money is no good here.I am not going to lie I am really mad my last year in Afghanistan was the worsttime of my life and then I come home to try and make a little extra money bybuying stocks and I canít because I donít make enough man oh man
May 05, 2012, 08:44 PM
try some other small brokerages, call first.I am looking to purchase about 700,shares,depending on price,with a sell order at 99dollars,and a sell order at 1 dollar below the market price I end up paying.
May 09, 2012, 10:26 PM
why dont u just go through td ameritrade?
May 16, 2012, 07:21 PM
not able to buy at ipo price,can purchase second day,so not interested,seems like the millions of shares have been reserved for the ipo elete on 1st day,with the jp morgone news, i have decided to pull more of my funds out of the bank and stick in my empty coffee can,and wait for the inflation/and deflation of our great /not so great greenbaks.
Who knows I dont,maybe I"ll get another 45.
May 25, 2012, 10:14 AM
Living the WP
As it turns out, The institutions that would not let you buy it did you guys BIG favors. Funny the hype that led up to the IPO and the disinformation that kept coming out for a small time.
There is a big problem with this company! Look for a bailout. But do not touch this one!
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