martes, 29 de mayo de 2012

Facebook boosts size of stock offering by 25 per cent amid frenzy

THESTAR.COM
Insiders and early Facebook investors will be unloading more of their shares in the initial public offering, the company said Wednesday, as they take advantage of investor demand. Facebook said in a regulatory filing that 84 million shares, worth up to $3.2 billion, will be added to the offering. The entire increase comes from insiders and early investors, so the company won't benefit from the additional sales.

The biggest increases come from investment firms DST Global and Tiger Global. Goldman Sachs is doubling the number of shares it is selling. Facebook board members Peter Thiel and James Breyer are also selling more shares. Founder Mark Zuckerberg isn't increasing the number of shares he's selling. Half of Americans say Facebook is a passing fad, IPO shares overpriced.

In a filing with the Securities and Exchange Commission, Facebook said current shareholders are now offering approximately 241 million shares, up from about 157 million shares previously.

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