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Facebook IPO valued at between $85bn and $95bn

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Facebook has set the share price for its upcoming initial public offering (IPO).

The social networking site has priced each share between $28 (£17.30) and $35 (£21.60), which values the company at between a massive $85bn and $95bn (£52bn-£59bn).

Facebook CEO Mark Zuckerberg talks about Timeline during the f/8 conference

© PA Images



The IPO is set to be the largest ever for an internet company, beating the previous record held by Google ($23bn in 2004).

Facebook will soon list on the Nasdaq, and is expected to start promoting the share offering on Monday (May 7).

Over 10% of the company is being sold, which will raise as much as $13.6 billion for the business and other owners.

Facebook currently has over 900 million users, and reached a $1bn profit last year. Last month it valued itself at $77 billion (£47.6bn).

Shares are expected to be available for purchase on the US stock market on May 18.

CEO Mark Zuckerberg's stake in the company is valued as high as $18.7 billion. He will be able to hold around 57.3% of the voting power of the remaining capital stock following the IPO.

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