Facebook IPO Update: Filing Likely This Afternoon, Morgan Stanley To Lead

It's reportedly D-Day for a possible announcement of a initial public offering. No, the IPO itself was never planned for today.

It’s reportedly D-Day for a possible announcement of a initial public offering, but it will happen in the afternoon. And no, the IPO itself was never planned for today.

AllThingsD heard from several sources that the earliest the social network will file its registration documents with the Securities Exchange Commission to do at the end of trading this afternoon.

Meanwhile, the battle between Morgan Stanley and Goldman Sachs for the lead role in the IPO apparently has a winner, as Bloomberg reported that Morgan Stanley will take the lead, with participation by Goldman Sachs, JPMorgan Chase, Barclays, and Bank of America.

Harris Private Bank Chief Investment Officer Jack Albin told Bloomberg as much as $500 million in fees may be earned by the banks working on the transaction, depending on the official pricing.

Speaking of value, International Financing Review pegged the IPO at $5 billion, which would value Facebook at a little more than $80 billion, in line with The Wall Street Journal‘s prediction of between $75 billion and $100 billion earlier this week. IFR said the goal is to complete the registration process by May.