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India Infoline News Service/
17:48 , May 16, 2012
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Facebook has hiked the IPO price range from an earlier range of US$28 to US$35 a share.
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Facebook Inc. plans to increase the size of its initial public offering (IPO) by 85mn shares to ~422mn, in a move that could raise the size of its upcoming offer to more than US$15bn, reports said on Tuesday.
The social networking giant plans to sell the shares in an indicative range of US$34 to US$38 apiece, reports added. Facebook has hiked the IPO price range from an earlier range of US$28 to US$35 a share.
At the mid-point of its current range, Facebook will raise US$15.2bn.
Facebook plans to file the increased offering size with the US Securities and Exchange Commission (SEC) on Wednesday morning, according to media reports.
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