Facebook Makes Plans To Offer More Stock In IPO Friday
May 16, 2012 at 5:04 AM (PT)
FACEBOOK has disclosed that it will offer 25% more shares of the company in its planned initial public offering later this week.
CNN reports, "The additional shares, disclosed in a filing with the SECURITIES AND EXCHANGE COMMISSION, could fetch an extra $3 billion, bringing the total raised through the initial share sale to as much as $16 billion. The offering will now sell 421.2 million shares, up from 337.4 million shares that it had previously announced plans to sell."