Facebook To End IPO Orders Tomorrow
Facebook will stop taking orders for their IPO tomorrow, which is two days ahead of schedule. Facebook will likely stop taking orders for the IPO after the U.S. markets close on May 15th said a source with Bloomberg. Facebook is offering 337.4 million shares at $28 to $35 per share.
“They’re swamped with the orders that are in,” stated Merriman Holdings CEO Jon Merriman. “They just need time to determine the price. They can send the message — the books are closing, send in your orders now.”
Based on the $96 billion valuation that Facebook is seeking, they would be the most valuable company in history to go public in the U.S. based on market capitalization. Facebook CEO Mark Zuckerberg is celebrating his 28th birthday today during the final leg of an investor roadshow to build demand for the IPO.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry