Facebook prices IPO at $38 per share

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Posted: May 17, 2012 3:30 PM
Source: Associated Press

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Topics: Facebook, IPO, initial, public, offering

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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