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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 18 May 2012 [View all]Demeter
(85,373 posts)41. Facebook launches biggest tech IPO on record
http://articles.marketwatch.com/2012-05-17/markets/31743809_1_ipo-analyst-pricing-renaissance-capital
Shares fetch $38 price in $16 billion sale; trading begins Friday...The size of the deal makes Facebook (US:FB) the third largest IPO ever in the U.S. market, and the biggest debut since Visa Inc.s $17.8 billion IPO in March 2008, according to IPO market-research firm Renaissance Capital.
The social-networking giants shares will begin trading Friday morning on the Nasdaq Stock Market, under the ticker symbol FB. Trading on the shares is expected to begin around 11 a.m. Eastern, according to a Nasdaq statement.
The pricing of the IPO comes in at the high end of the companys previously expected range of $34 to $38 per share. Facebook had raised both the price range and share count of the offering earlier this week, in the face of strong investor demand for what is the largest technology debut on record.
But some investors may consider the debut price a bit of a disappointment, as some expectations were creeping more to the $40 range and higher, prior to Thursdays market close.
The weak stock market likely played some factor in Facebooks pricing, according to James Krapfel, IPO analyst for Morningstar....
Shares fetch $38 price in $16 billion sale; trading begins Friday...The size of the deal makes Facebook (US:FB) the third largest IPO ever in the U.S. market, and the biggest debut since Visa Inc.s $17.8 billion IPO in March 2008, according to IPO market-research firm Renaissance Capital.
The social-networking giants shares will begin trading Friday morning on the Nasdaq Stock Market, under the ticker symbol FB. Trading on the shares is expected to begin around 11 a.m. Eastern, according to a Nasdaq statement.
The pricing of the IPO comes in at the high end of the companys previously expected range of $34 to $38 per share. Facebook had raised both the price range and share count of the offering earlier this week, in the face of strong investor demand for what is the largest technology debut on record.
But some investors may consider the debut price a bit of a disappointment, as some expectations were creeping more to the $40 range and higher, prior to Thursdays market close.
The weak stock market likely played some factor in Facebooks pricing, according to James Krapfel, IPO analyst for Morningstar....
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#97
It's fallen below $40...back to initial IPO of $38. and NASDAQ can't even execute buy/sell orders!!
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#107
bunch of last-minute buying. S&P was -1.00% 2 min. ago. Now it's only -0.74%.
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