Facebook's latest move regarding its much-awaited IPO seem to have generated immense interest among potential investors even as global stock markets continue to remain volatile amid European debt crisis.
The social networking major has increased the IPO price band to USD 34-48 per share from the earlier range of USD 28-35. The overall size of the offer has been raised to over 421 million shares from 337.41 million, according to the company's regulatory filings.
Based on the revised numbers, the initial share sale could mop up USD 16 billion -- tipped to be one of the largest IPO in recent times.
Further, the revised price band would peg the valuation of the company anywhere between USD 94-104 billion.
The offer, all set to hit the market on May 18, is widely expected to elicit strong response from investors.
The buzz around the Facebook's proposed share sale is rising by the day even as concerns remain in some quarters over the entity's long term business potential.
Shares are expected to be listed on Nasdaq under the symbol 'FB'. Going by estimates, the social networking site has more than 900 million users worldwide, including in India.
Facebook's proposed IPO could surpass that of other entities American technology giants such as Google, which mopped up USD 1.9 billion when it went public in 2004.
The 27-year-old CEO of Facebook -- Mark Zuckerberg -- who started the company eight-years ago in a Harvard dorm room, is planning to sell more than 30 million shares. Post IPO, he would retain over 58 per cent voting right in the entity.
Others offloading their shares include venture capital firm Accel Partners' James Breyer (38.2 million) and Goldman Sachs (13.2 million).
Meanwhile, the International Securities Exchange (ISE) would list contracts of Facebook this month that would enable people to gain exposure to its shares.
In a statement, ISE said "it will list options on Facebook beginning on Tuesday, May 29".
The options listing date is contingent upon a successful completion of Facebook's IPO, it added.
