Facebook floats 400 million shares at $38 each
Monday, May 21, 2012
Facebook has floated 400 million shares on the Nasdaq at €38 each which could provide as much as $16 billion in revenue and the third-largest IPO in US history.
A report by the Wall Street Journal has reported that the planned share price will see the validation of Facebook between $93 billion and $104 billion.
Facebook has also been hit by setbacks including the announcement by General Motors last week that the company was withdrawing $10 million in revue from advertising on Facebook after claiming that the site advertising failed to warrant the investment.