The already titanic listing could raise up to $16bn as febrile investors scrabble to take a stake in the social media giant, which has about 900 million users worldwide.
A big question mark remains about Facebook’s power to make money despite the huge demand, with General Motors (GM) announcing yesterday it was to pull its ad spend from the site.
The 422 million shares expected to sell on Friday would make Facebook the third largest initial share sale in history following Visa and GM, with the target price set at between $34 and $38 per share.
Such a listing would value the company at up to $104bn, and price it in excess of 99 times its earnings at the midpoint.
Fellow internet giant Google listed at 218 times its earnings in 2004, while Apple went for 102 times earning more than 20 years earlier.
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