News from Wall Street claim Facebook is about to launch an Initial Public Offer (IPO). The anticipated IPO will value the world’s largest social network at between $75 billion and $100 billion in what would be one of the largest initial public offerings in U.S. history.
Morgan Stanley (MS.N) and Goldman Sachs (GS.N) are expected to play a significant role in the deal which is expected to raise $10 billion.
Shares of Internet and social-networking companies rose after the news, with LinkedIn Corp (LNKD.N) closing 5.9 percent higher at $76.64 and Zynga Inc (ZNGA.O) gaining 5.6 percent to $10.05. Shares at GSV Capital (GSVC.O), an investment firm that owns Facebook, jumped 17.8 percent to $17.79.