Wednesday, May 16, 2012

Facebook Expands IPO Size

Under what looks to be a severe oversubscription to Facebook's upcoming IPO, the company filed a new S-1 this morning, saying that it will now offer up 421,233,615 shares of its stock in its IPO offering, expected to price Thursday evening and trade Friday morning. The company, which will trade on the NASDAQ Global Market as FB, is set to be worth over $16 billion, making it the largest ever technology IPO. The new shares would come from existing shareholders.