Facebook readies marketing roadshow for IPO
Facebook is expected to start marketing its shares to investors as soon as next week ahead of the company’s stock market flotation on 18 May.
The world’s largest social networking site is expected to be kicking off a ‘roadshow’ fronted by its founder Mark Zuckerberg next Monday (7 May) as it looks to drum up interest in its shares, according to reports.
Facebook executives would use the tour to discuss its business strategy with potential investors.
IPO roadshows typically last one to two weeks and if the plans are well received shares can sometimes begin trading a few days later.
Facebook, which saw revenue rise 45% to $1.06bn (£654.6m) during the first three months of this year, declined to comment on the roadshow.
The company announced plans to float on the stock market in February and the move could value it at up to $100bn (£64bn), making it the biggest technology IPO since Google’s in 2004.
Shares in the technology firm will be listed on the Nasdaq Stock Market and it will trade under the symbol ‘FB’.
Since the announcement, Facebook has ramped up its efforts to convince advertisers that it offers a sustainable revenue streams.
Last month Facebook acquired photo sharing app Instagram, in a move likely to make its mobile offering more attractive to advertisers.
