Facebook's long-anticipated initial public offering will see it look to raise $5bn in a listing expected to value the company at up to $100bn.
Though no target price has yet been announced for the IPO, documents filed with the US Securities and Exchange Commission overnight revealed founder Mark Zuckerberg owns a 28.4% stake in Facebook, with a dual share class structure meaning he will retain 56.9% of voting rights once the company goes public. Morgan Stanley will be the lead underwriter on the IPO, expected to take place in May. Reuters has suggested investor demand could push the $5bn target figure up towards $10bn by that date. The filing revealed Facebook made a $1bn profit from $3.7bn in revenue in the year to 31 Decem...
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