Business

Facebook employees' share coverts into stock soon

Wednesday, October 24, 2012
Facebook employees

On Thursday Facebook employees' share in their company will converts to stock and there could be some new millionaires in the Bay Area. (KGO Photo)

There will be some new millionaires in the Bay Area as the restriction is about to be lifted for Facebook employees who own company stock.

The employees' share in the company will be converted into stock Thursday and can be sold starting Monday.

Facebook workers own nearly 225 million shares -- about $5.2 billion worth, but they may wait to sell.

Facebook's stock price is still way below its initial public offering of $38, closing on Wednesday at $23.23 a share.

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