WSJ: Bankers Fighting Over Facebook IPO

One of the tech world’s most eagerly anticipated public offerings could take place next week, with Facebook potentially raising about $10B from shares that would value the company at as much as $100B, The Wall Street Journal reports. If the numbers are correct, then the Facebook IPO would be the largest-ever tech offering — well ahead of the $5.9B sale in 2000 for shares in semiconductor company Infineon Technologies. But first Facebook has to decide which Wall Street bank will lead its campaign, which the paper says could be worth “tens of millions of dollars in fees as well as bragging rights.” Morgan Stanley appears to be on top. But Goldman Sachs is still in the running despite its snafu last year when a $1.5B private offering it led for Facebook  ended up being restricted to overseas investors. The banker made that decision after the SEC began to investigate whether Goldman had run afoul of the law that bars “general solicitation and advertising”  for a private offering.

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