At that price, Facebook's IPO will raise $16 billion, making it the largest tech IPO in history. It's the third largest U.S. IPO ever, trailing only the $19.7 billion raised by Visa (V, Fortune 500) in March 2008 and the $18.1 billion raised by automaker General Motors (GM, Fortune 500) in November 2010, according to rankings by Thomson Reuters.
There are still a few more steps before Facebook's shares are ready to trade. The company is waiting for the Securities and Exchange Commission to declare its IPO effective -- the formal green light Facebook and its underwriters need before they can sell shares to outside buyers.
Shares will be released Thursday night to those buyers, who can resell them on the open market beginning on Friday.
Some shares were made available to individual investors, but getting them typically requires either a lot of money or a lot of trading experience. It also required moving fast. Many brokerages offering pieces of Facebook's IPO allotment "closed their books" on Tuesday, meaning they stopped taking orders.
Ordinary investors looking to get a piece of Facebook will have to wait until Friday morning. - CNN
I love facebook, believe in its grwoth, a big fan of the company and I'm so digging into their shares (Already searching for international stock brokers that can help me acquire that).
Well, not everyone is jumping for Joy at this news: Check out this report from CNN
But, if you know any stock broker, please contact me...
Hugs.
Thanks for reading :)
No comments:
Post a Comment