BREAKING: Facebook, World’s Largest Social Network To File For IPO Documentation On Wednesday [REPORT]

Posted on Jan 27 2012 - 7:34pm by Editorial Staff

The world’s largest social networking site, Facebook, as we know – is now coming with its “giant $100 billionInitial Public Offering documentation on coming Wednesday, according to a report from the Wall Street Journal.

Speculation of a Facebook IPO heightened this week after news reports of a halt in trading in the company’s privately-held shares on the secondary market, which was said to be a signal that the firm was about to file papers. Earlier also the reports states that the possible chances seem to be there that, Facebook’s IPO is likely to come in the third week of May – but now with today’s WSJ report – it is confirmed that the social network giant will file its paperwork for an IPO.

Also See: How much the World’s largest social network “Facebook” worth? (INFOGRAPHIC)

Cited an unnamed source, Morgan Stanley is close to winning the IPO deal, while Goldman Sachs is expected to play a key role – according to the journal. The upcoming IPO – expected to raise $10 billion – would be a “trophy” for investment banks – resulting in a huge competition on Wall Street – mainly between Morgan Stanley and Goldman Sachs.

Facebook, the leading social-networking site in the world with more than 800 million users, is widely expected to file for an IPO this year, probably in late may – a deal that’s expected to become one of the biggest public offerings in history.

The WSJ also reports that Wall Street giant Morgan Stanley will manage the offering, and that Goldman Sachs will be “intimately involved.” That’s a blow for Goldman, which managed a billion-dollar private share offering for Facebook this time last year.

(Image Source: Facebook, Featured Image)

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