WASHINGTON (dpa-AFX) - Social networking giant Facebook Inc. is planning to set the price range for its impending initial public offering in the high-$20s to mid-$30s a share, valuing itself at roughly $85 billion to $95 billion, The Wall Street Journal reported Thursday, citing people familiar with the matter.
The pricing puts the social network on track to become the most valuable U.S. Web company at the time of an IPO, exceeding Google Inc.'s (GOOG) $23 billion valuation in 2004.
Facebook, which plans to list its stock on Nasdaq under the ticker 'FB', plans to unveil its pricing range in a new regulatory filing after the market close, the Journal quoted the people as saying.
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