The big day is coming this Friday for the Facebook IPO. Facebook has now confirmed that share prices will be between $34 and $38 at opening due to the heavy demand. If Facebook’s shares sell at that price (or higher), then the company’s valuation will be well north of $100 billion.
The company, which had originally set the price between $28 and $35, now has put the range at $34 to $38, according to an amended S-1 it filed Tuesday morning. In addition, Facebook is offering another 50 million shares in the company, bringing to total to 337 million for a maximum haul of $12.7 billion at the high end of the range. Facebook’s share price hike shows that a report by Blooomberg stating that the IPO was meeting “weaker-than-expected demand” from institutional investors was likely off the mark.