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Report: Facebook IPO set for May 18
Seeking to raise about $5 billion in the offering
Updated: Wednesday, 02 May 2012, 6:36 AM EDT
Published : Wednesday, 02 May 2012, 6:36 AM EDT
(AP) - Facebook will go public on May 18, a published report says, in one of the most highly anticipated tech initial public offerings since Google went public in 2004.
The Wall Street Journal is reporting that the social networking company is set to start its roadshow on Monday, according to people familiar with the matter. The roadshow, a series of meetings with prospective institutional investors, is designed to stir interest in the company's stock.
Mark Zuckerberg, the founder and chief executive of Facebook, will attend some of the meetings, The Journal reports.
The Menlo Park, Calif.-based company is seeking to raise about $5 billion in the offering.
Officials for Facebook didn't immediately respond to requests for comment.
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