Facebook valued at $104bn as share price unveiled

Facebook valued at $104bn as share price unveiled

Posted on Friday, May 18, 2012

Facebook has priced its shares ahead of one of the most eagerly-anticipated share flotations in recent stock market history.

The social network said on Thursday that it valued shares at $38 (£24) each, and that its shares would begin trading in New York on Friday.

At this price the eight-year-old firm would be worth $104bn (£66bn).

Demand is set to be high; earlier this week Facebook said it would be selling 25% more shares than planned.But questions remain about the firm's ability to generate profits and take advantage of mobile phone platforms.There are also concerns that once the company has to answer to shareholders, there may be a greater emphasis on advertising to generate profits.

 

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