Saturday, April 21, 2012

Reports Point To May 17 Facebook IPO Listing

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Reports have indicated that the much-awaited Facebook IPO may make its debut on Wall Street on May 17.

The recent reports appear to verify earlier reports that the shares of Facebook will be listed on Nasdaq by the third week of the month of May.

A number of sources reportedly indicated that if the Securities and Exchange Commission or the SEC will give its approval, the Facebook IPO will be made available on Nasdaq by May 17. The company will reportedly have a value of about $100 billion with its initial public offering.

The papers for the $5 billion Facebook IPO were filed by company at SEC last February which ended previous speculations that the social networking company will go public. The filing also showed that around 845 million users have signed up with the social network and it earned $3.7 billion a year ago. The company has been making money in the last three years, which may add to the appeal for the Facebook IPO.

Following the listing of the Facebook IPO, the shares of the company will reportedly use the ‘FB’ ticker symbol. A number of technology companies are listed on Nasdaq including Google and Apple. On the other hand, Pandora and LinkedIn are listed on the NYSE, the rival of Nasdaq.

Prior to the reports on the possible listing of the Facebook IPO on May 17, the social networking company acquired Instagram for $1 billion. Instagram is a mobile photo sharing app that has attracted around 40 million users around the world.

Aside from the upcoming listing of the Facebook IPO and acquisition of Instagram, Facebook is also set in expanding its California headquarters. The City Council of Menlo Park gave its approval for the planned expansion of the 57-hectare property of the company, which will result to an increase in employment and increased revenue for the city.

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