Date: Wednesday 02 May 2012
Facebook is ready to hit the road on Monday, May 7th, to attract investors for its upcoming flotation, according to reports.
Assuming the road-show goes smoothly, Facebook would then hold the initial public offering (IPO) on May 18th, according to sources cited by The Wall Street Journal.
As the social networking giant looks to raise $10bn in the deal that would value the company at around $100bn, Chief Executive Mark Zuckerberg is scheduled to make some appearances on the road-show although he would not be present at all of them, according to the financial newspaper.
AllThingsDigital got the jump on the report on Tuesday saying that the road-show could begin “as early as next week”. The tech news web site said Facebook was still awaiting approval from stock market regulatory body the Securities and Exchange Commission but noted that the “process has been rather smooth for the company and sources said it appears it will continue that way”.
AllThingsDigital reports that Zuckerberg will take part in “key meetings” during the road-show, though there is “no word as yet on whether he will don a tie, as he sometimes does, or if his usual hoodie will be Zuckerberg’s outfit of choice”.
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