Facebook plans $10bn May stock offering
Facebook is reportedly preparing to make its stockmarket debut in May, during which the social networking giant could raise $10bn in the world’s biggest technology company float. The timetable would mean Facebook would need to file documents for review by America’s Securities and Exchange Commission within the next month for its fundraising, the Wall Street Journal said. Facebook is expected to offer a 10% stake, suggesting a $100bn valuation. British financial public relations specialist Brunwick Group is understood to have been appointed to manage the listing, reportedly scheduled for the third week of May. Brunswick represented online deals site Groupon during its initial public offering last year, and is understood to have worked on Facebook’s private placing with Goldman Sachs and its clients. Both Brunswick and Facebook declined to comment.
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