Last Call to Buy Facebook (FB) Shares Before Its IPO

March 28, 2012 2:42 PM EDT Send to a Friend
(Updated - March 28, 2012 3:46 PM EDT)

It's getting closer...

The Facebook IPO that is.

According to reports from Bloomberg, Facebook (NYSE: FB) -or- (Nasdaq: FB) is looking to halt trading of its pre-IPO shares on secondary markets like SharesPost and Second Market. The company told these companies to cease trading this week. The move would allow the company to account for its shareholder base as it makes final preparations for its IPO.

This news coincides with a notice from SharesPost Tuesday night that it changed the closing date for its current Facebook auction. Now all bids are due this Friday, March 30th at noon PST. Bids had previously been due by Monday, April 2nd. SharesPost is auctioning 150,000 units of Facebook with a reserve price of $38.00 per unit.

This may be the final pre-IPO auction of the shares.

Those looking to participate in Facebook before its IPO will now have to look to companies like GSV Capital Corp (Nasdaq: GSVC) and Firsthand Technology Value Fund (Nasdaq: SVVC), which both own shares in the social media juggernaut.

Facebook filled its IPO in February and is seeking to raise $5 billion. This will value the company at around $100 billion. The company will list under the symbol "FB."

The Wall Street Journal reported Wednesday afternoon that the company is preparing a May IPO.

Track all the latest developments related to the Facebook IPO at IPO Insider.


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