Trading in Facebook shares may not be as fervent as it would be on a public capital market, but it’s white-hot nonetheless.
In only a month, action in the privately held company on SharesPost was good for a 10.4 per cent gain. Last night, SharesPost revealed to Inside Investor Relations in an email that a clearing price of $27.60 per share for the most recent auction.
In mid-December, a SharesPost Facebook auction resulted in a clearing price of $25 per share.
Trading volume surged nearly 120 per cent month over month, with a sealed bid for 362,035 shares in the January auction, which was slightly ‘significantly oversubscribed,’ according to the SharesPost email. In a message that has become standard for the pre-IPO trading environment, the email continues: ‘As a result, when marketplace dynamics warrant it, we anticipate holding additional auctions for the shares of Facebook and other companies represented in the SharesPost marketplace.’
Facebook isn’t the only company to have shown growth with this auction. In its boilerplate, SharesPost indicates that it has ‘50,000 registered buyers and sellers of private company shares.’ This represents an increase of 25 per cent on its mid-December announcement.