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Facebook increases IPO size due to strong demand

(Xinhua)

11:13, May 18, 2012

NEW YORK, May 16 (Xinhua) -- Facebook Inc. on Wednesday increased its IPO shares by 84 million, totaling 421 million shares in an offering expected on Friday.

The world's largest online social network had raised the target price range to 34 to 38 dollars per share from 28 to 35 dollars a share. Combined with the share increase, the company would value about 93 to 104 billion dollars.

Facebook is scheduled to go public on the Nasdaq on Friday. The IPO could raise as much as 16 billion dollars.

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