Some of Facebook’s earliest backers plan to sell an additional $3bn worth shares in today’s initial public offering, as they take advantage of a wave of interest in the social network group’s flotation.
The move will increase the number of shares on offer by 25 per cent, with proceeds flowing to existing investors such as Goldman Sachs, Tiger Global Management and Accel Partners.
Investor demand has been stoked by a cross-country US roadshow over the past two weeks, allowing Facebook to increase the size of its offering from $12bn to as much as $18bn.
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