Investors are still infatuated with all things tech: Facebook’s upcoming initial public offering — expected to take place on Friday — is already oversubscribed following executives’ road show to gin up interest among institutional investors. And this morning the company said in an SEC filing that the offering price will be between $34 and $38 a share, up from its previous range of $28 to $35. The new high price would value Facebook at $104B, up from the previous high of $96B. The Class A shares being offered to the public will have one vote apiece while the Class B shares, held by insiders, have 10 votes. As a result, founder Mark Zuckerberg will control 57.3% of the votes after Facebook goes public.
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