Facebook’s IPO: Mark Your Calendars for the Biggest Day in History
Facebook’s initial public offering is expected to be on May 18, according to unnamed sources cited by the Wall Street Journal.
The social networking giant will begin a “road show” to market its stock to large potential investors on Monday. Facebook CEO Mark Zuckerberg is expected to make an appearance in at least some of the meetings, while Chief Operating Officer Sheryl Sandberg and Chief Financial Officer David Ebersman will lead most of the efforts.
Facebook’s IPO is partially being underwritten by Wells Fargo (NYSE:WFC) and Bank of America (NYSE:BAC), New Mexico’s two largest banks by local deposits. This is expected to be the biggest IPO since Google’s (NASDAQ:GOOG) in 2004. The IPO is said to be raising as much as $10 billion, valuing the company at roughly $100 billion.