30 Nov '11, 2am

Facebook reportedly seeking to raise as much as US$10 billion in its IPO

Facebook reportedly seeking to raise as much as US$10 billion in its IPO

Facebook might finally be laying down the groundwork for a highly anticipated initial public offering, long expected to take place sometime after April 2012. -- PHOTO: AFP NEW YORK (AP) - Facebook might finally be laying down the groundwork for a highly anticipated initial public offering, long expected to take place sometime after April 2012. The Wall Street Journal is reporting that the world's largest online social network is looking to raise as much as US$10 billion (S$12.9 billion) in its IPO. The Journal cited people familiar with the matter but did not identify them by name. The amount would value Facebook at as much as US$100 billion, according to the report. That's more than four times the market capitalisation that Google Inc. had at the time of its 2004 IPO. This is at least the second time this year that the Journal has floated the US$100 billion value for Face...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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