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Facebook To Go Public Later This Month

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Facebook To Go Public Later This Month

Business

Facebook To Go Public Later This Month

Facebook To Go Public Later This Month

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  • <iframe src="https://www.npr.org/player/embed/152001783/152001768" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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The social networking site plans to sell share shares for between $28 and $35 each, using the ticker symbol FB. The share sale is expected to raise as much as $12 billion, making it one of the largest initial public offerings ever.

DAVID GREENE, HOST:

NPR's business news begins with Facebook frenzy.

(SOUNDBITE OF MUSIC)

GREENE: The world's largest social networking site is going public later this month. And yesterday it set a price range for its stock. It plans to sell share shares for between $28 and $35 each, using the ticker symbol FB. The share sale is expected to raise as much as $12 billion, making it one of the largest initial public offerings ever.

Google, by contrast, raised just $1.9 billion when it went public. Facebook's 28-year-old CEO Mark Zuckerberg will maintain a firm grip on the company. Even after the IPO, he still controls about 58 percent of the company's voting stock.

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