Facebook IPO watch: The social networking site Facebook announced to raise its IPO (initial public offering) price range to $34-$38 per share. On the basis of the offering price range, the company will command a market value of $930 billion to $104 billion.
Facebook expects to announce the specific IPO price after the market close on Thursday and then officially get listed on Friday morning.
Another insider said Facebook will stop receiving IPO subscriptions on Tuesday, two days ahead of schedule, which shows the largest IPO transaction of this Silicon Valley has generated a great market demand and the stock has been over-subscribed.