Friday, May 18, 2012

Facebook Goes Public

The big investing news today is, of course, the Facebook IPO, which will probably get underway about an hour or so after the NYSE opening bell rings at 9:30 this morning. Here are some key facts and figures:

* Facebook announced yesterday that its shares would open at a price of $38. At that price, the IPO should raise about $16 billion.

* Increased investor demand led Facebook to expand the number of shares being sold by 25 percent. They now include 241.2 million held by existing shareholders, and 180 million new shares.

* Facebook founder Mark Zuckerberg plans to sell 30.2 million of his own shares in the IPO. That will bring in more than a billion dollars. But he'll still hold over 500 million shares.

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