Facebook to begin marketing its IPO

Facebook expects to begin marketing its initial public offering to investors as soon as next week, according to a person with knowledge of the matter.

Facebook executives will use the so-called road show to outline their business to prospective investors, a process that typically ends within about two weeks.

That timing indicates Facebook could complete the sale before the end of the month, after updating its IPO filing with regulators by the end of this week. Facebook filed in February for a public debut that could give it a value of $75bn-$100bn.

The company, which has more than 900m users, is seeking $5bn in what would be the largest internet IPO on record.

Executives would use the roadshow to discuss growth prospects that lifted sales 45% to $1.06bn in the first quarter. They will also face questions over the rise in costs that cut net income 12% to $205m in the March period.

The company plans to list its shares on the Nasdaq and trade under the symbol “FB”.

— Bloomberg


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