We have been hearing about Facebook’s IPO for a few weeks now. In what is expected to be the largest public valuation of a tech company, Facebook is hoping to be worth up to a whopping $96 billion! While many prospective investors may be eagerly waiting for this to happen, the good news is that the social network is one step closer to going public from 18th May.
Facebook had already filed for IPO. Now, the company has submitted yet another form, the 8-A form, with the Securities and Exchange Commission. The form goes on to show that Facebook’s IPO filing has been approved by NASDAQ stock exchange.
This is manifest in the words which were a part of the filing, “The Registrant’s Class A common stock to be registered hereunder has been approved for listing on the NASDAQ Global Select Market of The NASDAQ Stock Market LLC under the symbol ‘FB.”
A number of analysts had been speculating that perhaps the social network is facing difficulties regarding the price of shares or other issues and that was causing the delay in the process of Facebook going public. But now, this step shows that Facebook is on its way and it will probably going to be finally public in the later part of this week, something we have been expecting.
Facebook is also warming up to possible investors and is trying to show the world how the company will sustain its progress and profitability in the coming days. And so far, investors seems to be fairly hooked up to the social network, which further reaffirms the expectation that its IPO is going to be a huge success for the company.
Source: SEC
Courtesy: Tech Crunch
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