Facebook Expected to Raise $16 Billion In IPO Tomorrow

Facebook Expected to Raise $16 Billion In IPO Tomorrow

Facebook has settled on a final share price of $38 on the eve of its big IPO tomorrow, The Wall Street Journal reports. At that price, the company would raise $16 billion dollars in the offering for an overall valuation of $104 billion.

That figure would make Facebook the most highly valued company to go public in American history.

Predictions as to how much Facebook would raise in the IPO have steadily ticked upward in the countdown to the big event. Earlier this week, the company shifted its expected final share price range to $34-$38 from a previous estimate of $28-$35.

Dozens of people will make millions off Facebook tomorrow, including runaway co-founder Eduardo Saverin, but none will rake in nearly as much dough as Mark Zuckerberg. With 30.2 million shares up for sale, the 28-year-old CEO stands to gain $1.2 billion in a single day.

As for the rest of his stake in the company? That will be worth an estimated $19.1 billion.

[via WSJ]

Tags: facebook-ipo, mark-zuckerberg, facebook
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