Facebook on Tuesday raised its initial public offering price target range to between $34 and $38 per share in response to strong demand, an increase from $28 to $35, according to a new filing with the United States Securities and Exchange Commission. The new price range pushes the social networking company’s valuation to between $93 billion and $104 billion. Facebook will offer a total of 388 million shares, and is looking to raise $14.7 billion. Facebook will make its initial public offering on May 18th and its shares will be listed on the NASDAQ exchange under the “FB” ticker symbol.
[Via TechCrunch]
