Finance History | Nasdaq MarketSite — Thirty-Eight Dollars for Four Hundred Twenty-One Million Facebook Shares
· 2012-5
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Finance History | Nasdaq MarketSite — Thirty-Eight Dollars for Four Hundred Twenty-One Million Facebook Shares
kevin
People treat Meta as a Menlo Park social-media house that always printed META after a finished Nasdaq book.
The May 2012 issuer was Facebook, Inc., a Delaware company whose Class A common had never traded on an exchange.
A company release dated 17 May 2012 priced 421,233,615 Class A shares at 38.00 U.S. dollars a share in 2012 dollars.
Facebook itself offered 180 million of those shares. Selling stockholders offered 241,233,615.
The shares were expected to open on the Nasdaq Global Select Market on 18 May 2012 under FB.
Trading was delayed until about 11:30 a.m. Eastern time after Nasdaq's IPO cross software stalled.
Same-day tape accounts put the first print at 42.05 U.S. dollars in 2012 dollars and the close at 38.23, 0.23 above the offering price.
The company later changed its legal name to Meta Platforms, Inc. on 28 October 2021. The tape letters became META in June 2022.
The mechanism is a cash initial public offering whose first session tested Nasdaq's opening software as much as it tested the offering price.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed FB.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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