Facebook IPO Documents Likely To Be Approved This Week
According to sources with AllThingsD, Facebook’s IPO documents will likely be approved this week. Facebook is expecting that they will get approval from government regulators to officially distribute their S-1 public offering prospectus to investors within the next few days. The company is expected to go public in the second or third week of May.
Facebook CEO Mark Zuckerberg is expected to appear before potential shareholders and would be present at key meetings. Some of the concerns that shareholders would likely include the patent lawsuit from Yahoo! and the slowing of Facebook’s revenue growth in their most recent filing update.
Facebook is expected to raise up to $10 billion and would be valued at $75 billion or more. Last week Facebook said that their revenue was $1.058 billion, which is up 46% for the year but is down 6% from the previous quarter.
In Q1 2012 Facebook’s net income was $205 million, which was down from $233 million a year ago. Facebook said that the decline was due to rising costs including marketing and research. Facebook is expected to go public on the Nasdaq market under the symbol “FB.”