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

Video Five Patients Given Experimental Ebola Drug Said To Be Improving

Experimental drugs have been tried on six people: three Westerners and now, three African pyhysicians More

Video In Ukraine, Fear and Distrust Remain Where Fighting has Stopped

As Ukrainian military reclaims control of eastern cities residents rebuild their lives, but many say everyone is being treated with suspicion More

Video In Rural Kenya, Pressure Builds Against Female Circumcision

Girls learn to object; FGM practitioners face penalties from jail sentences to stiff fines 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.
Five Patients Given Experimental Ebola Drug Said to Be Improvingi
X
Carol Pearson
August 19, 2014 11:43 PM
The World Health Organization has approved the use of experimental treatments for Ebola patients in West Africa. The Ebola outbreak there is unprecedented, the disease deadly. The number of people who have died from Ebola has surpassed 1,200. VOA's Carol Pearson reports on the ethical considerations of allowing experimental drugs to be used.
Video

Video Five Patients Given Experimental Ebola Drug Said to Be Improving

The World Health Organization has approved the use of experimental treatments for Ebola patients in West Africa. The Ebola outbreak there is unprecedented, the disease deadly. The number of people who have died from Ebola has surpassed 1,200. VOA's Carol Pearson reports on the ethical considerations of allowing experimental drugs to be used.
Video

Video In Ukraine, Fear and Distrust Remain Where Fighting has Stopped

As the Ukrainian military reclaims control of eastern cities from pro-Russian separatists, residents are getting a chance to rebuild their lives. VOA's Gabe Joselow reports from the town of Kramatorsk in Donetsk province, where a sense of fear is still in the air, and distrust of the government in Kyiv still runs deep.
Video

Video China Targets Overseas Assets of Corrupt Officials

As China presses forward with its anti-graft effort, authorities are targeting corrupt officials who have sent family members and assets overseas. The efforts have stirred up a debate at home on exactly how many officials take that route and how likely it is they will be caught. Rebecca Valli has this report.
Video

Video Leading The Fight Against Islamic State, Kurds Question Iraqi Future

Western countries including the United States have begun arming the Kurdish Peshmerga forces in northern Iraq to aid their battle against extremist Sunni militants from the Islamic State. But there are concerns that a heavily-armed Kurdistan Regional Government, or KRG, might seek to declare independence and cause the break-up of the Iraqi state. As Henry Ridgwell reports from London, the KRG says it will only seek greater autonomy from Baghdad.
Video

Video In Rural Kenya, Pressure Builds Against Female Circumcision

In some Kenyan communities, female genital mutilation remains a rite of passage. But activists are pushing back, with education for girls and with threats of punishment those who perform the circumcision. Mohammed Yusuf looks at the practice in the rural eastern community of Tharaka-Nithi.
Video

Video For Obama, Racial Violence is Personal Issue

The racial violence in the St. Louis suburb of Ferguson is presenting U.S. President Barack Obama with an issue to which he has a deep personal connection. To many Americans, Obama's election as America's first black president marked a turning point in race relations in the United States, and Obama has made ending the violence a policy priority. On Monday he issued a new call for calm and understanding. Luis Ramirez reports from the White House.
Video

Video Clinton-Obama Relationship Could Impact 2016 Election

President Barack Obama and former Secretary of State Hillary Clinton have a long and complicated relationship. That relationship took another turn recently when Clinton criticized the president’s foreign policy. VOA National Correspondent Jim Malone reports there is renewed attention on the Clinton-Obama relationship as Hillary Clinton considers running for
Video

Video Iran Looks to Maintain Influence in Baghdad With New Shia PM

Washington and Tehran share the goal of stopping Syrian-based militants in Iraq. But experts say it's Iran, not the United States, that will most influence how the new government in Baghdad approaches internal reforms and the war in Syria. VOA State Department Correspondent Scott Stearns has the story.

AppleAndroid

World Currencies

EUR
USD
0.7492
JPY
USD
102.27
GBP
USD
0.5960
CAD
USD
1.0950
INR
USD
61.300

Rates may not be current.