Deals
Facebook Said Set to Finish Taking Orders for IPO Tomorrow
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Facebook Inc. plans to stop taking orders tomorrow for its initial public offering, two days ahead of schedule, according to a person with knowledge of the transaction.
Facebook will likely finish taking orders for the IPO after U.S. markets close May 15, said the person, who declined to be identified as the plans are private. The offer of 337.4 million shares at $28 to $35 each has been oversubscribed, according to people with knowledge of the matter, who declined to say by how much orders exceeded the amount of stock on offer. Jonathan Thaw, a spokesman for Facebook, declined to comment.