Media: Facebook readies for initial public offering

Facebook is reported to be preparing to issue its first public stock offering during the second quarter of 2012, in a deal that could value the firm at $100bn (£67bn).

There has been much speculation over the timing of Facebook's initial public offering, which has been forecast to be one of the biggest in history.

It emerged in January this year that Facebook was planning to float. This followed a $500m investment, led by Goldman Sachs, at the time valuing the firm at $50bn.

According to The Wall Street Journal, the social networking giant is looking to raise $10bn from the IPO, with its initial registration statement to be complete next month. Facebook declined to comment on The Wall Street Journal report.

The Financial Times reported in September that the IPO was being delayed until the end of next year, in a bid to keep employees focused on product development, rather than payouts.

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