Facebook estimates that its net proceeds from the sale of its common stock will be approximately $5.67 billion, assuming an IPO price at the midpoint of its range.
The company's advertising business is attracting plenty of attention prior to its IPO. Advertising accounted for 85% of Facebook's total 2011 revenue.
In a note released on Monday, Evercore Partners placed a valuation of $140 billion to $160 billion on the social networking giant, thanks to the potential of its advertising business.
Evercore analyst Ken Sena explained that several changes are underway in Facebook's advertising operation, prompting the high valuation. "
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