Just two days before its initial public offering, Facebook has increased the number of shares it will offer by 25%. The social networking giant will now offer 421 million shares to investors, 83.8 million shares more than it had originally planned to make available. Facebook is looking to price its stock between $34 and $38 per share, potentially allowing the company to raise more than $16 billion, making it the largest technology IPO and third-largest of all time behind Visa and GM. Fortune notes that the share increase will not affect Facebook’s valuation, however, as the extra shares are being reallocated out of the company’s existing share count. Facebook will be listed on the NASDAQ under ticker symbol FB.
Facebook increases IPO size by 25%
Updated Dec 19th, 2018 8:25PM EST
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Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.
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