Facebook Targets IPO Filing on Wednesday: Report
Facebook is considering filing its IPO documents on Wednesday, setting the stage for a highly-anticipated debut that may value the social-networking king at up to $100 billion, according to The Wall Street Journal.
Investment banks have been circling Facebook in hopes of getting a piece of the lucrative IPO, which is likely to generate tens of millions of dollars in fees for Wall Street.
In what could be a huge marketing coup, Morgan Stanley (MS: 18.22, +0.07, +0.39%) is close to winning the Facebook deal, the Journal reported.
Goldman Sachs (GS: 110.46, +1.90, +1.75%), which previously advised Facebook on a stock offering that drew regulatory scrutiny, is also likely to play a major role in the IPO, the paper reported.
Facebook, which is led by co-founder Mark Zuckerberg, is eyeing an IPO valuation of $75 billion to $100 billion, the paper reported. The company is expected to raise $10 billion, a sum that would make it the largest U.S. Internet IPO in a decade.