Social network giant Facebook has apparently selected Morgan Stanley to lead their IPO (Initial Public Offering), according to a quartet of (obviously unnamed) sources who are familiar with the internal situation. Facebook will go ahead to file their plans with regulators today in an effort to raise an estimated $5 billion, although it is not too far off the mark to say that the final amount might actually increase. Facebook too, has selected FB as its stock symbol, and executives at Morgan Stanley who are part of the IPO stand to receive a windfall, considering the company will earn a generous slice of the fees collected by securities firms for their role in arranging the IPO.
Other companies like Goldman Sachs Group Inc., JPMorgan Chase & Co., Barclays Plc and Bank of America Corp. will also assist with the sale, but no prizes for guessing who will receive the lion’s share of the fees. Will you be one of those who are on the lookout to pick up Facebook’s shares, and will Facebook eventually acquire the kind of insane money that might see them go on a shopping spree?
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