Facebook gifts it big on Women’s Day
Posted on: Mar 12, 2012 |
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Facebook followed the footsteps of Goldman Sachs Group and General Motors for its IPO, by adding several women and minority owned investment institutions.
The addition does not surprise as both these groups have of lately been underwriting more equity deals than ever. The social networking giant, on Wednesday filed an IPO registration statement with the US Securities and Exchange Commission, is expected to be valued at $100 billion after the IPO. It has hired investment banks (some 35) as underwriters for its $5 billion IPO. Among those enlisted in the deal include New York-based banks of the likes of Williams Capital Group, MR Beal & Co, CastleOak Securities and the Chicago based Loop Capital Markets. Though the social network biggie seems unfazed by the market comments, the rumors say that Facebook added them as underwriters after being criticized by the California State Teachers' Retirement System (CalSTRS) for not having women on its board of directors. |
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