Washington, May 12 (ANI): Social networking giant Facebook's Initial Public Offering (IPO) is already oversubscribed, raising expectations that the firm could be worth over 100 billion dollars when it places its shares in the upcoming week.
Analysts say Facebook, which is seeking to raise 10.6 billion dollars at its initial public offfering and has set a target range of 28 to 35 dollars a share, may raise that range because investors want to buy more shares than the 337million the company is making available on Thursday.
The value of the company is expected to surge past the 100 billion dollar figure when it starts trading next Friday, The Telegraph reports.
Facebook began its roadshow to drum up investor enthusiasm on Monday, and has apparently done an effective job, despite concerns over its corporate governance and slow growth in mobile revenues.
The social network recently warned its investors that the surge of people accessing Facebook on their mobiles or tablet devices was threatening the company's long-term financial prospects, because it had not yet worked out how to monetise that usage. (ANI)
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