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Facebook Raises IPO Price Range Making $12.1 Billion Public Offering

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Facebook Inc. raised the price range for its initial public offering.  The stock was said to open at $28 a share. Then it was bumped up from $28 to $34.  We then heard that the stock was bumped up again to $34 to $38 a share.  This makes Facebook’s IPO to raise 12.1 billion.  Making it Silicon Valley’s biggest public offering.

Facebook executives have been pitching the social network’s stock to investors on a roadshow since last Monday.

The jump in price was said to be due to overwhelming demand by investors on the roadshow.  The company’s initial price range put Facebook’s evaluation at $77 billion to $96 billion With this recent hike puts  Facebook’s evaluation at $93 billion to $104 billion.  Facebook will pick a final price Thursday Night.  Thursday night its final IPO documents must be filed with the Securities and Exchange Commission. They must do this before its first day of trading Friday.

A new poll out by Associated Press-CNBC poll

http://news.yahoo.com/poll-half-americans-call-facebook-fad-040615340–finance.html

shows more then half of Americans think Facebook is a fad and that it will be the next MySpace.

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