Facebook prices shares on the high end of its range at $38

Facebook priced its initial public offering at $38 per share, which is at the high end of the range it proposed on Tuesday. The price will raise about $16 billion and give the social network a valuation over $100 billion.

The company plans to list 421.2 million shares of its common stock on the Nasdaq on Friday under the symbol FB. Facebook is offering 180 million of its shares. The remainder of the shares come from existing stockholders — a number of whom decided Wednesday to sell a greater proportion of their shares.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in