Facebook has officially set its IPO at the high end of the range it announced the other day: $38 a share.
At 11am EST on May 18, Facebook shares will be trading on the NASDAQ under the ticker symbol “FB.” How much will that one share of your favorite social network going to set you back? Only a mere $38, but that is going to give the company a valuation of around $104 billion, placing it at a higher value than the likes of Disney or Kraft. Facebook co-founder and CEO Mark Zuckerberg himself will be sitting on enough shares to place his personal wealth at around $19 billion.
Although the stock will open at $38 to the investment banks tomorrow morning, it will be a few hours before it is available to your average investor. By the time that happens, you can expect the price to have shot up even higher.
This ia big day for Zuckerberg and crew, now it’s just a matter of seeing if the public will “like” the stock.