With the big day drawing near, Facebook said today that it expects its stock to trade at between $28 and $35 per share once it joins the market. At the middlepoint of that range, the company's IPO would generate up to $10.6 billion for an overall valuation of $86 billion, The New York Times reports.

The company is reportedly on track to begin trading May 17 or May 18, according to the New York Times. Earlier reports had suggested that Facebook's recent high profile business deals, including purchasing Instagram and a stockpile of patents from Microsoft, could delay the offering.

[via NYT]