New York: Facebook is going to sell 25 percent more shares than the previously planned one, making the new number of offering to 421.2 million shares and total raise could be around $16 billion.
According to CNNMoney the Investor demand for Facebook shares has been “nothing short of pandemonium.”
The additional shares came after a filing with the Securities and Exchange Commission (SEC) and could easily add an additional $3 billion to the total amount.
After the offering, Facebook CEO Mark Zuckerberg will hold 503.6 million shares, or about 31% of the company. If the share price maintains at $38 each, the stake would be worth $19.1 billion.
Zuckerberg has decided not to sell any additional shares, also adhering to his previous plan to sell 30 million shares, or just less than 6 percent of his Facebook holdings.
Loading ...
Copyright © 2011-13 The News Tribe. All rights reserved. This material may not be published, broadcast, rewritten, redistributed, unless stated otherwise.