Source: NewsCore
MENLO PARK, Calif. -- Facebook said in a filing Wednesday that it will increase the size of its initial public offering (IPO) to 421.2 million shares, according to Dow Jones.
The company initially planned to offer about 337.4 million shares.
The revision comes a day after the social networking giant raised the expected price range for its IPO to between $34 and $38 a share, up from $28 to $35 a share, due to higher than expected demand from investors.
The increased offering means Facebook could raise up to $16 billion in Silicon Valley's largest stock market debut on record, sources said.
Facebook plans to set a listing price within its range and file its final IPO documents with the Securities and Exchange Commission on Thursday evening. The stock is expected to begin trading Friday on the Nasdaq.
