Facebook Inc.’s FB 0.00% coming initial public offering has set off a frenzy of anticipation among Main Street and Wall Street investors desperate to get their hands on the stock.
Late Monday, the social network raised the price range for its IPO to $34 to $38 a share, from $28 to $35 a share, said a person familiar with the matter, in a sign of investor appetite for the offering. The Menlo Park, Calif., company’s initial price range put Facebook’s valuation at $77 billion to $96 billion, but that rises to $93 billion to $104 billion under the new price range, said the person familiar with the matter, as investor interest ramps up.
Read the full article.
