PrivCo, a New York firm that tracks private companies, is reporting that Facebook plans to price its stock at $38 to $40 per share and is expected to choose the New York Stock Exchange rather than the tech-heavy Nasdaq stock market.
Facebook’s ticker symbol is expected to be “FB,” according to PrivCo, which cites its own private sources.
The PrivCo report also confirms details first reported by the Wall Street Journal that the Menlo Park company plans to file papers for an IPO late Tuesday or early Wednesday and that Morgan Stanley has been picked as the lead underwriter, with Goldman Sachs as co-lead.
“PrivCo expects valuation to be between $90 – $95 billion to ensure the stock pops after trading,” the report said. “With Facebook’s fully diluted shares being approximately 2.35 billion shares, according to PrivCo calculations, initial price talk will be $38-$40 per share.”
The report also says Morgan Stanley will manage Facebook’s IPO road show as “the first among equals, including introducing (CEO) Mark Zuckerberg and Facebook COO Sheryl Sandberg.”
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