Facebook Seeks 25 More Banks To Underwrite Its IPO

Posted on Mar 8 2012 - 7:35am by Editorial Staff

We all know Facebook giant IPO is on the way, due late May and everyone eyes’ over on the world largest social network giant. The company reportedly seeks 25 more banks to underwrite its Initial Public Offering. The social network giant states that it had secured two new credit facilities, one of which will help the company satisfy hefty tax withholding obligations and remittances related to employees’ stock units.

The banks namely Deutsche Bank, Credit Suisse and Citigroup are among the banks that will likely be added, increasing the number of underwrites on the deal to 31. Among the two dozen new banks getting a piece of the Facebook IPO were several smaller firms, including Oppenheimer & Co, Pacific Crest Securities and Cowen and Co.

(Image Source: Facebook, Featured Image)

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