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


Every parent eventually reaches that weird milestone where their children discover that their mother or father had a life before kids. For Cork musician John “Haggis” Hegarty it came this April, when his 17-year-old son walked in clutching a copy of the Irish Examiner.Emperor of Ice Cream: Cork band reunite for another scoop

Louis Theroux, best known for his TV documentaries, is, like the rest of us, being forced to improvise and so has started a podcast, Grounded with Louis Theroux.Podcast Corner: Louis Theroux and Ross Kemp zoom into action

Gavin James is preparing for what is probably the strangest challenge of his live-gigging career to date: performing to a sea of cars at his upcoming Live at the Drive In gigs.Gavin James: All revved up for drive-in gigs

The Government last week reminded anyone receiving the pandemic unemployment payment (PUP), put in place as an emergency response to layoffs made in the wake of the Covid-19 crisis, that they could be liable for a tax bill at the end of the year.Making Cents: Working out if you will face a tax bill because of Covid-19 supports

More From The Irish Examiner