SAN FRANCISCO (Reuters) – Facebook Inc plans to price its initial public offering at a range with a mid-point of $31.50 per share, a source familiar with the IPO told Reuters.
The largest IPO to emerge from Silicon Valley will be priced in the high-$20s to mid-$30s a share, a range expected to be announced later on Thursday when the company releases its latest prospectus, one of the sources said.
The Wall Street Journal earlier reported the IPO’s pricing range, citing sources as saying that at that range, the world’s largest social network would have a valuation of between $85 billion to $95 billion.
Facebook, which plans to list its stock on Nasdaq under the ticker “FB” (FB.O), will begin meeting with investors on Monday to promote a massive offering eclipsing Google Inc’s (GOOG.O) 2004 coming-out party.
(Reporting By Edwin Chan; Editing by Gerald E. McCormick and Bernadette Baum)