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Facebook To Go Public Later This Month


NPR's business news begins with Facebook frenzy.


GREENE: The world's largest social networking site is going public later this month. And yesterday it set a price range for its stock. It plans to sell share shares for between $28 and $35 each, using the ticker symbol FB. The share sale is expected to raise as much as $12 billion, making it one of the largest initial public offerings ever.

Google, by contrast, raised just $1.9 billion when it went public. Facebook's 28-year-old CEO Mark Zuckerberg will maintain a firm grip on the company. Even after the IPO, he still controls about 58 percent of the company's voting stock. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.