Facebook will permanently stop trading of its stock on private secondary markets at the end of this week ahead of its initial public offering in May, the FT reports.
SharesPost, which facilitates the private sale of Facebook shares, told investors the company had requested a stop to trading on Friday “to help ensure [its] orderly transition into the public markets”. Facebook’s IPO is expected to be one of the largest ever seen, with some estimates putting a $100bn valuation on the company at the time of the listing. The length of the stop on trading is unusual. Other internet companies, including Groupon and Zynga, continued trading on the private markets right up to their IPOs, while LinkedIn ceased trading a week before its offering, according t...
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