Facebook plotting IPO in 'late May'

17th Jan 2012 | 01:38

Facebook plotting IPO in 'late May'

Social network preparing for stock market floatation

Facebook will file for an IPO in May, ahead of full listing on the stock market later this year, according to AllThingsD.

The long-anticipated floatation could raise up to $10 billion for the social network on a company valuation of $100 billion.

In order to make that possible, Facebook must first file for an Initial Public Offering with the Securities and Exchanges Commission and AllThingsD's "multiple sources" say that is imminent.

From there, it may take three or four months, for Facebook to get approval for a full floatation on the stock market.

More urgency

Recent events may have led to a little more urgency in Facebook's long-in-the-works desire to go public.

Facebook has been criticised in investment circles for not fully cashing-in on its 800 million members.

Also, as AllThingsD points out, Google's decision to integrate Google+ into its search results, rather than other social networks, may damage Facebook, so an injection of cash from Wall Street would be most welcome.

The report also points out that the date of the IPO filing could change "in a New York minute."

Via: AllThingsD

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