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Tag: FB

  • Facebook IPO is Already Sold Out

    Facebook IPO is Already Sold Out

    While experts in the investment industry were not so sure Facebook would be able to convince buyers that their stock was worth the price, Reuters reports today that they are ready to close the book on the IPO as soon as tomorrow. That’s right they are already booked, and demand has outweighed available shares allocated for the IPO.

    As we reported on Friday, Some investors had already run out of shares they could offer investors and were calling around to see if there were others that could be moved. As you may remember, Facebook has put a price range on their IPO shares somewhere between $28 to$ 35. The final pricing will be set on Thursday.

    Due to the unbelievable demand for the IPO shares, some speculate that they may actually increase the price beyond the $35 range, however given the conservative nature of the underwriters of the deal, an increase is unlikely.

    Not that it seems to matter all that much in light of the first piece of news, but Facebook’s “FB” ticker symbol has been approved by Nasdaq according to their Securities and Exchange Commission S1 filing. This ends speculation about who would carry the stock, the NYSE or Nasdaq.

    So if your expecting to get your hands on any of the much anticipated social network stock from Facebook, you better already have it lined up or you’ll be waiting for the six month lockup period to expire . Official trading isn’t scheduled until Friday, but it seems more like a non-event at this point. We’ll keep you posted as more information on the Facebook IPO becomes available.

  • Battle For Facebook Listing: NASDAQ or NYSE ?

    No doubt the Initial Public Offering of Facebook stock is the most anticipated since Google went public. With equity-trading volume’s down for both platforms, the NASDAQ and the NYSE are in a battle to win the listing.

    Securing Facebook could have a synergistic effect for the winner platform however it is doubtful that it will significantly change listing revenues at either exchange. According to insiders on Wall Street, Facebook could file IPO documents with regulators as soon as March. Sources also report that Facebook has already reserved their ticker symbol as “FB”.

    CFO David Ebersman and other prominent members of Facebook’s staff have already heard from both exchange platforms on the merits of choosing one versus another but no decisions have yet been made. As their campaigns push forward I’m sure we’ll hear a decision from Facebook soon.