Facebook Could Opt for Smaller $5 Billion IPO - Reports
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Some more details on the expected Facebook (NYSE: FB) IPO filing are leaking out.
According to reports from IFR, the social media giant is expected to raise just $5 billion in its preliminary IPO prospectus which is due Wednesday morning. This is lower than the $10 billion number that was being discussed.
IFR said the smaller deal size "reflects a decision to start with a conservative base before deciding whether to increase."
As expected, Morgan Stanley (NYSE: MS) will lead the deal. Goldman Sachs (NYSE: GS), Bank of America Merrill Lynch (NYSE: BAC), Barclays Capital (NYSE: BCS) and JP Morgan (NYSE: JPM) will help with the underwriting.
The IPO process could be finalized by May, the report said.
A valuation wasn't mentioned, only that recent trading on private exchanges pointed to a $80 billion-plus valuation.
A ticker also wasn't mentioned, although recent reports suggest "FB" is the stock symbol. An exchange is also no known.
According to reports from IFR, the social media giant is expected to raise just $5 billion in its preliminary IPO prospectus which is due Wednesday morning. This is lower than the $10 billion number that was being discussed.
IFR said the smaller deal size "reflects a decision to start with a conservative base before deciding whether to increase."
As expected, Morgan Stanley (NYSE: MS) will lead the deal. Goldman Sachs (NYSE: GS), Bank of America Merrill Lynch (NYSE: BAC), Barclays Capital (NYSE: BCS) and JP Morgan (NYSE: JPM) will help with the underwriting.
The IPO process could be finalized by May, the report said.
A valuation wasn't mentioned, only that recent trading on private exchanges pointed to a $80 billion-plus valuation.
A ticker also wasn't mentioned, although recent reports suggest "FB" is the stock symbol. An exchange is also no known.
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