Deals
Goldman Sachs Reaps $1.09 Billion by Selling in Facebook IPO
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Goldman Sachs Group Inc. and funds managed by the firm raised $1.09 billion selling stock in Facebook Inc.’s initial public offering, cashing out almost half their stake in the social network.
The investment bank and its funds offered 28.7 million of the 65.9 million shares they own at $38 apiece, the top of the price range. Goldman Sachs sold 6.18 million of its own holdings, raising $235 million. The number of shares being offered by Goldman Sachs was included in a filing yesterday by Menlo Park, California-based Facebook.