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Facebook prices IPO at $38 per share

3 years ago May 17, 2012 May 17, 2012 Thursday, May 17 2012 Thursday, May 17, 2012 2:30:29 PM EDT in News
Source: Associated Press

NEW YORK - Facebook says it has priced its initial public offering of stock at $38 per share.

That's the high end of its expected range of $34 to $38. It means investor demand is strong for the world's largest online social network.

Facebook now stands to reap as much as $18.4 billion from the IPO, if the extra shares reserved to cover additional demand are sold too.

The offering values the company at around $104 billion.

 

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