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
- Target security breach: 40M possibly affected 22 min ago
- Students allegedly hack system, change grades
- Mexico resort shootout: 5 dead in Rocky Point
- Kelly Thomas trial: Defense rests its case
- Fire erupts at strip mall in Hawthorne
- South LA grandmother found dead in apartment
- $5.8M settlement reached in Calif. race crash
- LA Council speaks on immigration deportations
- Mega Millions: Georgia winner comes forward
- abcnews: Renewed Gacy probe reunites family 21 min ago
- Congress passes bipartisan budget agreement
- Electroporation may treat melanoma patients
- 'Anchorman 2' is overhyped, but still funny
- OTRC: Justin Bieber retiring? Manager responds
- Latest weather with Bri Winkler
10 min ago