NEW YORK (AP) - Facebook has set a price range of $28 to $35 for its initial public offering of stock.
At the high end, this could raise as much as $11.8 billion. If the underwriters sell the extra stock reserved for overallotments, the IPO will value Facebook at $79.3 billion at the high end of the price range.
That's much higher than any other Internet IPO in the past, even Google Inc. in 2004.
The range came in a regulatory filing Thursday.
The Wall Street Journal reported earlier Thursday that the price range would value Facebook Inc. at $85 billion to $95 billion.
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