Offering could raise as much as $13.6 billion
Facebook Thursday set a range for its initial public offering set for later this month that could value the company at $77 to $96 billion and, at the high end, raise as much as $13.6 billion.The company, in a regulatory filing, priced the IPO in a range of $28 to $35 a share, which could still change closer to the offering. Facebook will sell 337.4 million shares, about half from founders, staffers and outside investors. Founder and CEO Mark Zuckerberg’s stake could be worth up to $18.7 billion. He’ll control 57% of the voting power post IPO. Facebook, which will start road show presentations to investors next week, will trade on the Nasdaq under the symbol FB.