Facebook raises its IPO price as expected Friday offering nears
NEW YORK – Facebook is raising the price at which it plans to sell stock to the public.
The social networking company says in a regulatory filing Tuesday it expects to sell its stock for between $34 and $38 per share. That’s higher than a previous range of $28 to $35.
The initial public offering is the most hotly anticipated in years and would value Facebook at more than $100 billion. The offering is expected to happen Friday.
Facebook has more than 900 million users who log in at least once a month.