Business Tech

Demand for shares outstrips supply Facebook

SAN FRANCISCO (Reuters) – Facebook IPO is already a success, demand from institutional investors exceeding the available supply,  according to a source familiar with the matter.

The company behind the community site to 900 million users worldwide will raise up to $ 10.6 billion in stock market by introducing some 337 million shares at a unit price that would be of the order of from 28 to 35 dollars.

But demand could encourage it to meet these intentions.

Facebook has made no comment.

Last week, Facebook has reported a drop in sales compared to the previous quarter. Revenues, which represented $ 1.06 billion from January to March, declined 6% over the last three months of 2011.

But the growth potential of this amazing company to the trajectory, created in 2004 by Mark Zuckerberg in a dormitory at Harvard and now present in several parts of the digital economy, selling online advertising, attracting investors.

The first quotations should start on May 18.

Facebook will overwrite the previous IPOs of technology companies from Silicon Valley.

For its IPO in 2004, Google had raised just under two billion dollars. Last year, Groupon, group buying site, has raised $ 700 million and the online game developer Zynga one billion.


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