Facebook IPO Date Reportedly Set
Facebook IPO Date Reportedly Set, The roadshow for Facebook Inc’s initial public offering is scheduled to start on Monday, meaning the company’s shares should begin trading on May 18, a source familiar with the process said on Tuesday.
Founder and CEO Mark Zuckerberg, who has mostly operated in the background during Facebook’s closely watched journey to public markets, will be involved in the roadshow, another source said.
Facebook declined to comment.
Many on Wall Street had not expected Zuckerberg to turn up on the roadshow after he skipped a March*n*lysts’ meeting, ceding the stage to COO Sheryl Sandberg and CFO David Ebersman. His March absence irked some investors who were indignant that the CEO, while wielding near-absolute control over the eight-year-old firm, had snubbed Wall Street.
IPO roadshows, in which company management presents its strategy to prospective investors, typically last one to two weeks. If the roadshow goes particularly well, shares sometimes start trading a few days earlier. (Reuters)