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Facebook Gets 'FB' Ticker Approval

MENLO PARK, Calif. ( TheStreet) -- Facebook, which is preparing for the biggest-ever tech IPO, has received approval for its "FB" Nasdaq ticker symbol, according to a regulatory filing.

Facebook outlined its plan to trade on the Nasdaq in an amended S-1 filing last month, ending speculation about the company's likely home.

Facebook has been approved to trade under the ticker symbol 'FB'

The Menlo Park, Calif.-based firm is expected to price its IPO on Thursday, and begin trading on Friday.

Facebook could raise as much as $13.6 billion, representing the maximum proposed size of the offering, which would reflect the sale of 388 million shares at $35 each.

Excluding an over-allotment of 50.6 million shares, however, and assuming an IPO price of $31.50 a share, the midpoint of its range, Facebook would raise $10.6 billion. The company estimates that the new proceeds from its offering will be about $5.6 billion, assuming a midpoint price range.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

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