Facebook announced Wednesday that 25% more shares of the company will be sold in its planned initial public offering later this week.
The additional shares, disclosed in a filing with the Securities and Exchange Commission, could fetch an extra $3 billion, bringing the total raised through the initial share sale to as much as $16 billion. The offering will now sell 421.2 million shares, up from 337.4 million shares that it had previously announced plans to sell.
If the company sells $16 billion in shares as expected, it would be the largest tech IPO in history, and the third largest U.S. IPO ever, trailing only the $19.7 billion raised by Visa in March 2008, and the $18.1 billion raised by automaker General Motors in November 2010, according to rankings by Thomson Reuters. It would also be the 11th largest global IPO in history.
The additional shares will be sold by selling shareholders of the company, not by the company itself, which will stick with previous plans to sell 180 million shares. (…)


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