NEW YORK (
, which is gearing up for the biggest ever tech IPO, could raise as much as $13.6 billion from its offering, according to documents filed with the Securities and Exchange Commission on Thursday.
The social networking giant amended its S-1 filing, detailing an anticipated price range of $28 to $35 per share.
| Facebook amended its S-1 filing with the SEC on Thursday.
Facebook estimates that the net proceeds from the sale of its common stock will be approximately $5.67 billion, assuming an IPO price of $31.50 per share, which is the midpoint of its price range, and the sale of roughly 180 million shares.
The Menlo Park, Calif.-based firm did not reveal the date of its offering in the amended S-1, although the IPO is expected to take place in mid-May.
The $13.6 billion in potential proceeds represents the
maximum proposed size of the offering
, which would reflect the sale of 388 million shares at $35 each.
Facebook will have 2.14 billion total Class A and Class B shares outstanding after the IPO, according to the document. At $35 a share this would give Facebook a total valuation of $74.83 billion, below the $100 billion mark rumored in recent weeks.
By way of comparison,
(HPQ - Get Report)
has a market cap of $48.41 billion, while
(GOOG - Get Report)
(IBM - Get Report)
and have market caps of $199.2 billion and $239.05 billion, respectively.
(AAPL - Get Report)
market cap is $544.04 billion.
Previously, the largest tech IPO was Google's $1.7 billion offering in 2004.
Written by James Rogers in New York.
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