Facebook prices at $38, high end of revised range; third-largest US IPO ever

Facebook priced its 421 million share IPO at $38, the high end of the revised $34-$38 range. The $16 billion deal is 51% larger than that originally anticipated (the company had originally planned to sell 337.4 million shares at a price of $28-$35) and makes it the third-largest US IPO of all time , behind Visa and ENEL SpA and seventh-largest IPO ever . At the IPO price, the company will have a diluted market cap of $104 billion and an enterprise value of $94 billion. Morgan Stanley, J.P. Morgan and Goldman Sachs were the lead bookrunners on the deal. The stock is expected to begin trading on Friday on the NASDAQ under the ticker "FB".

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