Facebook to sell 25% more shares
May 17 , 2012
Facebook has announced it will sell 25 percent more shares than first planned in its flotation due to strong demand.
The move comes a day after the social networking site said it would raise the share price by 21 percent to $34-$38 a share.
Facebook will add about 84 million shares to its initial public offering and will now sell around 421 million shares, up from 337 million. The company is expected to raise $18 billion.