The stock opened well on Friday, its first day of trading and traded record volume but at the end of the day it was not a winner. It has been down hill since and now questions are being raised about how the bankers handled the IPO. Reports have come out that the lead bankers changed revenue forecasts midway into the IPO roadshow; the problem being not everyone had access to the same information.
This kind of controversy only a few days into trading for one of the most anticipated IPO�s in the market does not bode well for the average retail investor confidence in the market.
Facebook (NASDAQ: FB) initial public offering consisted of 421,233,615 shares of its common stock at a priced to the public of $38 per share.
Morgan Stanley, J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Barclays, Allen & Company LLC, Citigroup, Credit Suisse and Deutsche Bank Securities are serving as book runners for the offering. RBC Capital Markets and Wells Fargo Securities are serving as active co-managers.
About Facebook Founded in 2004, Facebook's mission is to make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what's going on in the world, and to share and express what matters to them.
Read the entire S1 IPO filing for Facebook: http://www.sec.gov/Archives/ edgar/data/1326801/ 000119312512034517/d287954ds1.htm
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