Facebook is gearing up for IPO

By VisionwizTeam at February 1, 2012 | 10:35 am | Print

Facebook is gearing up for IPO

Finally, Facebook is gearing up for IPO according to news broke by IFR.

Facebook is expected to file to raise US$5bn in a preliminary IPO prospectus on Wednesday morning, which while less than anticipated could be increased to ultimate investor demand, according to sources close to the deal.

The social networking site has opted to hire five bookrunners, featuring Morgan Stanley in the coveted lead left role.

Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan round out the initial list of bookrunners on the deal, though the syndicate could also grow, sources indicated.

With final pricing of Facebook shares unlikely to be settled for at least three months, it is still unclear what valuation the company is targeting on the IPO.

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