IFR: Facebook To File $5 Billion Initial Public Offering On Wednesday

Posted on Feb 1 2012 - 5:31am by Editorial Staff

According to Reuters, the social networking giant, Facebook is expected to file its initial paperwork for its Initial Public Offering on Wednesday, seeking to raise $5 billion in its IPO bid. The company has selected Morgan Stanley and four other as bookrunners – Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan to handle its giant-IPO.

Cited earlier as 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.

If IPO initial paperwork is filed as expected on Wednesday, it will be sure that timeline will puts Facebook’s IPO on slate for mid-may as expected earlier. The company is reportedly going to trade under the ticker name “FB”.

The company once files its S-1 paperwork to go public, it could have a valuation of anywhere between $75 billion to $100 billion – that is why we termed earlier it as “giant $100 billion IPO” – the largest in the tech industry.

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