Report: Facebook stock to price up to mid $30s

  • Associated Press
  • Posted: Thursday, May 3, 2012 3:54 p.m.
    UPDATED: Thursday, May 3, 2012 3:55 p.m.
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This Feb. 1, 2012 photo shows the Facebook logo on a computer screen in Berlin. Facebook will go public on May 18, a published report says, in one of the most highly anticipated tech initial public offerings since Google went public in August 2004. (AP Photo/dapd, Timur Emek)

NEW YORK -- A published report says Facebook is seeking a valuation of $85 billion to $95 billion when it goes public in a few weeks.

The Wall Street Journal, citing unnamed people familiar with the matter, said Thursday that the company plans to set the per-share price of its stock in the high $20s to mid $30s. This is a narrower range than the previously expected $75 billion to $100 billion. Facebook’s initial public offering will be by far the largest Internet IPO ever, dwarfing even Google Inc.’s in 2004.

The pricing won’t be final until Facebook files the required documents with the Securities and Exchange Commission. This could take place as early as Thursday.

Facebook did not immediately respond to a request for comment.

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