Facebook sets initial public offering at $38 per share
LOS ANGELES (KABC) -- Facebook has priced its initial public offering of stock at $38 per share, the social network announced Thursday.
That number is the high end of its expected range of $34 to $38, meaning investor demand is strong for the world's largest online social network.
Facebook now stands to reap as much as $18.4 billion from the IPO, if the extra shares reserved to cover additional demand are sold too. The offering values the company at around $104 billion.
The Associated Press contributed to this report.
facebook, california, budget, business
- Body found in canyon ID'd as Maribel Ramos
- Castaic-area brush fire nears containment
- CA task force aims to control gun ownership
- Greuel, Garcetti vie for last-minute votes
- Couple arrested in LA pot grow operation 33 min ago
- OC church burglary suspect in custody
- Yosemite park's tourist amenities at stake
- Frazier Park fire: Crews gain upper hand
- Ricin letter case: FBI searches WA apartment 25 min ago
- Tornado-ravaged Texas town to start recovery
- SKorea: NKorea fires 3 short-range missiles
- Connecticut commuter train crash: 70 injured
- abcnews: Flesh-eating bacteria survivor's bionic hands
- OTRC: Jennifer Lopez debuts 'Live It Up' video