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.
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.
(Image Source: Featured Image)