Facebook to go public

Written By Lingkar Dunia on Sunday, January 29, 2012 | 11:37 AM

Any spare cash to invest?

Facebook will begin the process of becoming a publicly-listed company this week, valuing the social networking site at between $75bn (£48bn) and $100bn, reports suggest.

The company plans to file papers with the US financial watchdog on Wednesday, according to the Financial Times and the Wall Street Journal.

The flotation later this year would raise about $10bn, they reported.

This would be one of the biggest share sales seen on Wall Street.

It would dwarf the $1.9bn raised by Google when it went public in 2004.

It would still, however, be some way short of the $20bn raised by carmaker General Motors in November 2010.

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