Facebook Prices IPO At $38 A Share

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[Techtaffy Newsdesk]

Facebook is  pricing its IPO at $38 per share. The shares begin trading on the Nasdaq Global Select Market on May 18, 2012, under the symbol “FB.” Facebook is offering 180,000,000 shares of Class A common stock and selling stockholders are offering 241,233,615 shares of Class A common stock. Closing of the offering is expected to occur on May 22, 2012, subject to customary closing conditions.

Morgan Stanley, J.P. Morgan, Goldman, Sachs, BofA Merrill Lynch, Barclays, Allen & Company, Citigroup, Credit Suisse and Deutsche Bank Securities are serving as book runners for the offering. RBC Capital Markets and Wells Fargo Securities are serving as active co-managers.