Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Facebook, the world's most popular social network, is ready to go ahead with an IPO as early as Wednesday, The Wall Street Journal reports.
Facebook, the world's most popular social network, is ready to go ahead with an IPO as early as Wednesday, The Wall Street Journal reports.

Facebook to file for IPO as soon as Wednesday: report Add to ...

Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world’s largest social network at between $75-billion and $100-billion (U.S.), the Wall Street Journal cited unidentified sources as saying on Friday.

Morgan Stanley is a strong front-runner to be the lead underwriter on what would be one of the largest initial public offerings in U.S. history, the Journal cited its sources as saying. Goldman Sachs is expected to play a significant role in the deal too, the newspaper added.

More related to this story

A Facebook spokesman declined to comment.

The impending IPO – expected to raise $10-billion – is a prized trophy for investment banks, setting up a fierce competition on Wall Street, particularly between the presumed front-runners Morgan Stanley and Goldman Sachs.

Shares of Internet and social-networking companies rose after the news, with LinkedIn Corp. closing 5.9 per cent higher at $76.64 and Zynga Inc. gaining 5.6 per cent to $10.05.

GSV Capital , an investment firm that owns Facebook shares, jumped 17.8 per cent to $17.79.

Follow us on Twitter: @GlobeInvestor

 
  • LNKD-N
  • ZNGA-Q
  • GSVC-Q
Live Discussion of LNKD on StockTwits
More Discussion on LNKD-N
Live Discussion of ZNGA on StockTwits
More Discussion on ZNGA-Q
Live Discussion of GSVC on StockTwits
More Discussion on GSVC-Q

More related to this story

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories