Facebook Preparing For IPO In May

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Photo: Sean Gallup / Getty Images

Facebook is targeting May for its initial public offering, according to a new report by the Wall Street Journal.We first reported Facebook would go public around that time late January. Insiders were warned to block off a weekend late that month.

It will make its trading debut in an unspecified week in May after filing to go public at the beginning of February, according to unnamed sources in the report.

The company halted trading on secondary markets today.

One source in the Wall Street Journal report stressed that the timing could still change. The timing depends on the Securities and Exchange Commission, not Facebook, according to the report.

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