Facebook to file $5 billion IPO
Facebook Inc. said it has plans to raise $5 billion through an initial public offering (IPO). The social networking giant on January 31, 2012 picked Morgan Stanley and four other book runners to conduct the huge IOP.
Facebook was founded by Mark Zuckerberg at Harvard in 2004 elected Morgan Stanley for the Lead left role in what is slated to be the biggest IPO ever to surface in the Silicon Valley.
Other book runners are Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan. The underwriting syndicate could be expanded at a later stage. Lead left refers to where the top underwriter’s name will appear on the IPO prospectus.
The $5 billion has been set as an introductory objective by the company and could be modified anytime depending on the investor demand.
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.