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Facebook Expects To Price IPO In $28-$35 Range

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5/3/2012 4:06 PM ET

Social net working giant Facebook, Inc. said in a regulatory filing Thursday that it expects to price its initial public offering between $28.00 and $35.00 per share.

In the offering, Facebook, Inc. is offering 180 million shares of its Class A common stock and the selling shareholders are offering about 157.4 million shares of Class A common stock, the company said in the filing.

The company and the selling stockholders have granted the underwriters the right to purchase up to an additional about 50.6 million shares of Class A common stock to cover over-allotments.

Facebook said it has applied to list its Class A common stock on the NASDAQ Global Select Market under the symbol "FB."

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by RTT Staff Writer

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