Facebook will officially begin trading at $38 per share on Friday morning in what will be the biggest IPO ever from an internet company.After months of speculation, and a week of last minute adjustments from Facebook, Friday’s listing on the NASDAQ index will raise $16 billion for Mark Zuckerberg’s company.

The CEO himself, who founded the company in his Harvard dorm, is expected to become an instant billionaire, selling over 30m shares to net over $1.1bn.The $38 shares, which will be available to buy to the public, will see the company valued at a staggering $104 billion overall, with $81 market capitalisation.Dwarfing GoogleThe $16 billion-valued IPO dwarfs the previous mark achieved by an internet company. Google hit the stock market in 2004 in the years following the dotcom bust, and raised $1.67bn.Facebook’s offering, however, is in a completely different stratosphere.

See the original article here:

Official: Facebook to sell shares at $38, values company at $104bn

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Fintech: the natural response to a quarantined economy

During the global lockdown, MSMEs needed Financial Technology (fintech) to keep business operations going. FinTech companies also provided an intrinsic relief to business owners that were at risk of getting sick by continuing to operate manually.

China continues to lead global e-commerce market with over $2 trillion sales in 2022

China accounted for over 37% share in the global e-commerce market, in terms of payments value in 2021. The country was followed by the US with $1.5 trillion, while the UK stood at a distant third with $292.1 billion in 2021

Chamni’s Eye (CEYE) Enters the MAI Stock Market

CEYE produces materials for advertising, television and film. The company provides a full scale production for still image and video, computer-aided photo retouching, and online media production service & media management