News / Economy

Facebook Boosts Its Initial Stock Price

News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.
x
News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.
News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.

Social media giant Facebook says it is raising the price of the company stock it is offering to the public.
 

The Internet-based social network site had initially said the more than 337 million shares of stock it is selling would be priced between $28 and $35 a share. But with strong demand for the stock from large institutional investors, Facebook said Tuesday it is boosting that range to between $34 and $38 a share.


Facebook plans to set the exact price Thursday, and start selling stock on Friday.

With the sale of more than 12 percent ownership of the company to the public, Facebook could raise more than $12 billion.


Facebook founder Mark Zuckerberg, who turned 28 on Monday, started the company eight years ago in his college dorm room at Harvard. He will still own 57 percent of the company's voting stock, even after selling some of his shares to meet U.S. tax obligations.


But a co-founder, Brazilian-born Eduardo Saverin, says he is renouncing his U.S. citizenship and taking up residency in Singapore in order to avoid hundreds of millions of dollars in U.S. taxes on the 4 percent stake he has in the company. Unlike the U.S., Singapore has no tax on profits made from the sale of stock in a company.


While large investors have voiced widespread interest in buying Facebook shares, not everyone is convinced an investment in the company will prove worthwhile.


A new survey in the U.S. by the Associated Press and the CNBC television network showed that half of those polled thought that use of Facebook is a passing fad, and that its stock price is too high. Younger people, among Facebook's biggest adherents, viewed the stock offering more favorably than older people who have been much less frequent users of the web site.

 

Some information for this report was provided by AP, AFP and Reuters.

You May Like

Australia Knights Prince Philip, Sparking National Outrage

Abbott's surprise reintroduction of knights and dames in the country's honors system last year drew criticism that he was out of touch with national sentiment More

SAG Award Boosts 'Birdman' Oscar Hopes

Individual acting Oscars appear to be sewn up: SAG awards went to artists who won Golden Globes: Julianne Moore, Eddie Redmayne, Patricia Arquette, J.K. Simmons More

Katy Perry Lights Way for Super Bowl's Girl Power Moment

Pop star's selection to headline US football championship's halftime show extends NFL's trend of selecting artists who appeal to younger viewers More

This forum has been closed.
Comment Sorting
Comments
     
by: breemnkeype
May 16, 2012 9:34 AM
<a href=http://cheaplthandbagsoutlet.info>louis vuitton bags</a> have many series, includes Monogram Canvas, Damier Handbags, Multicolor Handbags and Mini Lin, ect.
All of these replica <a href=http://louisvuitton-handbagsau5.info>louis vuitton bag</a> we provide are virtually indistinguishable from the authentic ones.
We have been trying every effort to offer the best service, the guidance of every step to purchase our <a href=http://louisvuitton-handbagsau5.info>bags louis vuitton</a> products is available on our website.
they usually are specially best to women of all ages intended for with whom <a href=http://2012ltwalletsale.info>handbags louis vuitton</a> form part while using the garments.
Presently, a big a number of suppliers deliver <a href=http://2012ltwalletsale.info>louis vuitton handbags</a> around the world.


by: liaibewPoisse
May 16, 2012 9:29 AM
As we know,<a href=http://christianlouboutinsalestore.info>christian louboutin sale</a> producer by its extensive well-known company, this will be a great love and Cheap Christian Louboutin supply of design girls like shoes,Christian Louboutin purse and Christian Louboutin wrist timer,etc.
Far better not surrender <a href=http://cheapshoesonlineheels.info>wedding shoes</a> fashion accessory in addition to the trend setting will not let go you.
This prolonged different really definitely femme exactly who understands develop noticeably supplementary alternatively a lower amount, unquestionably gain listens about inside the type of name <a href=http://louboutinshoespumps.info>louboutin boots</a>.
Qiu dong is <a href=http://christianlouboutinsalestore.info>christian louboutin sales</a>, conventional dominant,bleak colors in print and colored ep-red-with and environmental protection to decorate,this can be straightforward shoes guarantee and special.
The red soles are the signature of <a href=http://christianlouboutinonsale.info>louboutin christian</a> highlighting the female sweet and lovely, beautiful and sexy Matural.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Zoo Animals Show Their Artistic Sidesi
X
June Soh
January 23, 2015 10:03 PM
The pursuit of happiness is so important, America's founding fathers put it in the Declaration of Independence. Any zookeeper will tell you animals need enrichment, just like humans do. So painting, and even music, are part of the Smithsonian National Zoo's program to keep the animals happy. VOA’s June Soh met some animal artists at the zoo in Washington. Faith Lapidus narrates.
Video

Video Zoo Animals Show Their Artistic Sides

The pursuit of happiness is so important, America's founding fathers put it in the Declaration of Independence. Any zookeeper will tell you animals need enrichment, just like humans do. So painting, and even music, are part of the Smithsonian National Zoo's program to keep the animals happy. VOA’s June Soh met some animal artists at the zoo in Washington. Faith Lapidus narrates.
Video

Video Progress, Some Areas of Disagreement in Cuba Talks

U.S. and Cuban officials are reporting progress from initial talks in Havana on re-establishing diplomatic ties. U.S. Assistant Secretary of State (for Western Hemisphere Affairs) Roberta Jacobson said while there was agreement on a broad range of issues, there also are some “profound disagreements” between Washington and Havana. VOA State Department correspondent Pam Dockins has the story.
Video

Video Worldwide Photo Workshops Empower Youth

Last September, 20 young adults from South Sudan took part in a National Geographic Photo Camp. They are among hundreds of students from around the world who have learned how to use a camera to tell the stories of the people in their communities through the powerful medium of photography. Three camp participants talked about their experiences recently on a visit to Washington. VOA’s Julie Taboh reports.
Video

Video US, Japan Offer Lessons as Eurozone Launches Huge Stimulus

The Euro currency has fallen sharply after the European Central Bank announced a bigger-than-expected $67 billion-a-month quantitative easing program Thursday - commonly seen as a form of printing new money. Henry Ridgwell reports for VOA from London on whether the move might rescue the eurozone economy -- and what lessons have been learned from similar programs around the world.
Video

Video Nigerian Elections Pose Concern of Potential Conflict in 'Middle Belt'

Nigeria’s north-central state of Kaduna has long been the site of fighting between Muslims and Christians as well as between people of different ethnic groups. As the February elections approach, community and religious leaders are making plans they hope will keep the streets calm after results are announced. Chris Stein reports from the state capital, Kaduna.
Video

Video As Viewership Drops, Obama Puts His Message on YouTube

Ratings reports show President Obama’s State of the Union address this week drew the lowest number of viewers for this annual speech in 15 years. White House officials anticipated this, and the president has decided to take a non-traditional approach to getting his message out. VOA White House correspondent Luis Ramirez reports.
Video

Video S. Korean Businesses Want to End Trade Restrictions With North

Business leaders in South Korea are calling for President Park Geun-hye to ease trade restrictions with North Korea that were put in place in 2010 after the sinking of a South Korean warship.Pro-business groups argue that expanding trade and investment is not only good for business, it is also good for long-term regional peace and security. VOA’s Brian Padden reports.
Video

Video US Marching Bands Grow Into a Show of Their Own

The 2014 Super Bowl halftime show was the most-watched in history - attracting an estimated 115 million viewers. That event featured pop star Bruno Mars. But the halftime show tradition started with marching bands, which still dominate the entertainment at U.S. high school and college American football games. But as Enming Liu reports in this story narrated by Adrianna Zhang, marching bands have grown into a show of their own.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8930
JPY
USD
117.98
GBP
USD
0.6673
CAD
USD
1.2445
INR
USD
61.498

Rates may not be current.