Facebook Gets 'FB' Ticker Approval
|Facebook has been approved to trade under the ticker symbol 'FB'|
The Menlo Park, Calif.-based firm is expected to price its IPO on Thursday, and begin trading on Friday.
Facebook could raise as much as $13.6 billion, representing the maximum proposed size of the offering, which would reflect the sale of 388 million shares at $35 each.
Excluding an over-allotment of 50.6 million shares, however, and assuming an IPO price of $31.50 a share, the midpoint of its range, Facebook would raise $10.6 billion. The company estimates that the new proceeds from its offering will be about $5.6 billion, assuming a midpoint price range.
--Written by James Rogers in New York.
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