Facebook Sets IPO Price Range Ahead of NASDAQ Debut

With Facebook expected to begin trading May 18th on the NASDAQ exchange under the symbol FB, the social networking giant is attracting no shortage of potential investors ahead of the most closely watched IPO in years.

On Thursday, Facebook established a less than aggressive share price range of $28 to $35 for its initial public offering. Facebook revealed the range as it amended its IPO filing to indicate that it will sell 337.4 million shares.

If Facebook hits the high end of its range, the IPO could help draw better than $11 billion.

For Mark Zuckerberg, the founder and CEO of Facebook, the social networking platform is poised to make the young billionaire even wealthier than he already is.

But having a lucrative company was never his long term goal.

“Facebook was not originally created to be a company,” Zuckerberg admitted upon filing papers to take Facebook public. “It was built to accomplish a social mission — to make the world more open and connected. We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services.”