Post date: Feb 01, 2012 10:50:15 PM
REUTERS - Facebook submitted paperwork to regulators on Wednesday morning (February 1) for a $5 billion (USD) initial public offering (IPO) and has selected Morgan Stanley and four other bookrunners to handle the mega-IPO in what is expected to be the largest IPO ever to emerge from Silicon Valley.
Facebook files its initial public offering (IPO) and is ready to offer stock to the public -- setting the stage for Silicon Valley's largest-ever IPO.
The world's largest social network, a dorm room project for Harvard dropout Mark Zuckerberg that exploded in popularity and vaulted to Silicon Valley's top tier within 8 years, submitted preliminary IPO documents to the U.S. Securities Exchange Commission after weeks of frenzied speculation.The $5 billion is a preliminary target and could be ramped up in coming months in response to investor demand, IFR added.
The other four bookrunners chosen are reportedly Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan.
The preliminary IPO filing sets the stage for a May market of the world's largest social network -- a coming-out party that will dwarf almost any before that, including Google Inc's $2 billion IPO.