Facebook IPO rumours fuelled by share suspension
A signal that Facebook may imminently fire the starting gun on its long anticipated Initial Public Offering has ben made after the social media giant suspended trading in its shares.
Reports in the US suggest that shareholders can now only place buy and sell orders on the stock with transactions not being approved until January 27.
Such a move is normal for firms about to make material announcements ass to their direction so as to avoid allegations of insider dealing.
The notoriously secretive company will have to divulge its key figures and detail its financial performance with America’s Securities and Exchange Commission by the middle of next month if it is to float in the third week of may as expected.
The process is expected to value Facebook at around £64.4bn making it the largest technology flotation in history.