Facebook IPO is Already Sold Out

    May 14, 2012
    Shawn Hess
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While experts in the investment industry were not so sure Facebook would be able to convince buyers that their stock was worth the price, Reuters reports today that they are ready to close the book on the IPO as soon as tomorrow. That’s right they are already booked, and demand has outweighed available shares allocated for the IPO.

As we reported on Friday, Some investors had already run out of shares they could offer investors and were calling around to see if there were others that could be moved. As you may remember, Facebook has put a price range on their IPO shares somewhere between $28 to$ 35. The final pricing will be set on Thursday.

Due to the unbelievable demand for the IPO shares, some speculate that they may actually increase the price beyond the $35 range, however given the conservative nature of the underwriters of the deal, an increase is unlikely.

Not that it seems to matter all that much in light of the first piece of news, but Facebook’s “FB” ticker symbol has been approved by Nasdaq according to their Securities and Exchange Commission S1 filing. This ends speculation about who would carry the stock, the NYSE or Nasdaq.

So if your expecting to get your hands on any of the much anticipated social network stock from Facebook, you better already have it lined up or you’ll be waiting for the six month lockup period to expire . Official trading isn’t scheduled until Friday, but it seems more like a non-event at this point. We’ll keep you posted as more information on the Facebook IPO becomes available.

  • http://www.LAokay.com Steve G

    It’s the start of the downfall of Facebook. Now we’ll start seeing all sorts of bad things that Facebook will do in the name of revenue and profits to satisify public investors. Before Facebook didn’t have obligation to earn as much income and profits as it could, but now that it’s going public, Facebook will have to or face their stock price dropping to the point that makes their 100 billion valuation really seem like a joke if it was not already.

  • http://Facebook Claudia Menke

    In my opinion, Facebook should be SHUT DOWN because of the terrible damage that has been down to families,kids and people in general. There is a way to message another without harming anyone. But it is seldom used.
    It has broken up families, harrased others and made it easy to do so without face to face conversations. Posting pictures is about the only thing it is worth!!!!!!