Facebook shares to cost £24 each (From Hereford Times)
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Facebook shares to cost £24 each
9:40pm Thursday 17th May 2012 in National News © Press Association 2013
Facebook has priced its initial public share offering at 24 pounds each
Facebook has priced its initial public share offering at 38 US dollars (£24).
That is at the high end of its expected range of 34 to 38 dollars.
It means investor demand is strong for the world's largest online social network.
Facebook stands to reap as much as 18.4 billion dollars (£11.6 billion) from the sale, if the extra shares reserved to cover additional demand are also sold.
The offering values the company at around 104 billion dollars (£66 billion).
