Mark Zuckerberg’s social network is zeroing in on May for its initial public offering. In a bid for that Facebook has asked the firms to stop trading in its shares starting from next week.
The halt in shares’ selling comes at the time when Facebook is attempting to reduce the churn in its valuation that can create confusion prior to IPO. The social network is longing to raise $5 billion at its IPO, which can value the company at up to $100 billion easily the largest public offering in Silicon Valley history.
The biggest social networking service in the world is waiting for a green signal from Securities and Exchange Commission to declare its prospectus effective. Facebook has already revised its prospectus thrice since filling for IPO in February.
It is said that under the “FB” ticker company is willing to trade its share but no update in this regard has been outed yet.
With over 845 million users all over the world Facebook is giving a touch time to the search giant, Google, in terms of online time spent by a user and in advertising business.
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