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Facebook prices secondary offering shares at $55, to raise $1.5bn

Facebook is reportedly expected to raise close to $1.5 billion through a secondary offering with shares priced at $55.05 apiece. The social networking giant is selling a little more than 27 millio

  • Updated: December 23, 2013 6:40 PM IST
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Facebook is reportedly expected to raise close to $1.5 billion through a secondary offering with shares priced at $55.05 apiece. The social networking giant is selling a little more than 27 million shares of its own, and in the offering the company’s CEO Mark Zuckerberg has put in his 41.35 million shares.

According to CNet, Zuckerberg, who is also giving 18 million shares to charity, is expected to make around $2.28 billion by selling his shares in Facebook’s second offering to help pay taxes.

Venture capitalist Marc Andreessen will offload 1.6 million of his shares.

The report said that the offering is expected to close on December 26 and Facebook will use the proceeds for working capital and other corporate purposes.

  • Published Date: December 22, 2013 1:18 PM IST
  • Updated Date: December 23, 2013 6:40 PM IST