Facebook One Step Up For Its IPO, Adding Banks To Underwrite Its IPO

Posted on Mar 5 2012 - 7:25am by Editorial Staff

With Facebook Initial Public Offering date is approaching due this May and with everyone eyes’ over on the world largest social networking giant, Facebook reportedly will add banks in coming weeks to help underwrite its IPO. The banks namely Deutsche Bank, Credit Suisse and Citigroup are among the banks that will likely be added.

Facebook filed its S-1 paper on February 1st in order to raise $5 billion in its IPO bid. The social giant set up a $1.5 billion credit agreement with affiliates of Morgan Stanley, JPMorgan Chase & Co, Goldman Sachs, Bank of America Merrill Lynch and Barclays Capital, the leading underwriters of the company’s IPO.

(Image Source: Facebook, Featured Image)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.