Facebook is also expected to pick Morgan Stanley as the lead bank for the offering, putting it in the coveted “lead-left” position of the underwriters listing, these people said.
Dealbook
News Alert
The New York Times
Tuesday, January 31, 2012 -- 5:27 PM EST
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Facebook Plans to File for I.P.O. on Wednesday
Facebook plans to file the prospectus for its initial public offering on
Wednesday, according to people briefed on the matter, finally kicking off one
of the most anticipated stock sales of the social networking era.
The Internet giant plans to list a preliminary fund-raising goal of about $5
billion, one of these people said. Another cautioned that any such number was largely
a placeholder for determining filing fees, and that the final amount could
differ significantly. And the company could still decide to delay its filing.
Facebook is also expected to pick Morgan Stanley as the lead bank for the
offering, putting it in the coveted “lead-left” position of the underwriters
listing, these people said. Morgan Stanley had dueled with Goldman Sachs for
the prestige that comes with leading Facebook’s market debut, though
underwriter fees may be smaller than in a normal offering.
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