Facebook’s initial public offering was set to be one of the largest IPO’s in tech history, but it looks like the social network giant may well surpass the $100 billion mark.
According to the US Securities and Exchange commission, Facebook has raised the price target range of its shares from $28-$35 per share to $34-$38 per share. If an average of $36 per share is sought, Facebook could very well raise nearly $12 billion more than previously estimated. This values Facebook at $93 billion to $104 billion, smashing through the $100 billion mark.
In February this year, Facebook made the IPO official. It said it was hoping to sell $5 billion worth of its private shares, valuing the giant at $100 billion.
Facebook is expected to price its shares and begin trading under the ticker “FB” tomorrow, 16 May.