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MENLO PARK, Calif. (
Facebook(FB - Get Report), which is on deck for the biggest-ever tech
IPO, is clearly enjoying
massive demand for its offering from investors.
The social networking phenomenon, expected to debut on Friday, raised its projected price range to between $34 and $38 a share earlier this week. Facebook had initially predicted a range of $28 to $35 a share.
At the new price range, Facebook will have a valuation between $93 billion and $104 billion, significantly above the market caps of tech heavyweights
HP(HPQ - Get Report).
Facebook also estimates net proceeds of $6.4 billion from its IPO, assuming a price of $36, the midpoint of its projected range.
On Wednesday, the Menlo Park, Calif.-based firm revised its S-1 filing yet again,
adding 83 million shares to the offering.
With the most eagerly-anticipated IPO for years almost here, we want to hear what you expect from Facebook shares on their debut. Will Facebook's stock live up to the hype?
Written by James Rogers in New York.
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