Photo: Twitter/ CNBC
The Facebook IPO keeps getting bigger by the day.CNBC reports hearing from a source that Facebook is now planning to add 85 million more shares to its public offering, bringing the total number to 422 million shares up from 337 million previously. That’s about a 25% increase in the number of shares.
Based on the expected IPO price of between $34 to $38 a share, the extra shares would help the company raise a total of as much as $16 billion, though CNBC puts the grand total closer to $20 billion factoring in extra shares that may be sold by bankers after the IPO.
An earlier report this week suggested that Facebook would add about half that number of shares for a total of 380 million shares, which would have valued the deal at $14.7 billion.