Social networking giant Facebook Inc. is preparing to file preliminary paperwork for a $5 billion initial public offering Wednesday morning, although that figure could grow, the International Financing Review reported Tuesday, citing sources.
Morgan Stanley will serve as the lead underwriter, with Goldman Sachs Group, Bank of America Merrill Lynch, Barclays Capital andJ.P. Morgan Chase serving as secondary underwriters, IFR said, citing sources. More firms could join in the deal, the report added.
The Wall Street Journal on Friday reported that Facebook would seek to file paperwork this week for an IPO that could raise as much as $10 billion and value the company at $75 billion to $100 billion.