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Facebook to file for IPO next week, reports say

The social network is looking at a deal, underwritten by Morgan Stanley, that could put its value between bn and 0bn

Status update: Facebook will file for an IPO next week, perhaps as early as Wednesday, in a deal that could value the company between bn and 0bn, reports the Wall Street Journal.

But Facebook company spokesman Jonathan Thaw told the Guardian that the social network is “not going to participate in IPO-related speculation”.

Facebook, based in Menlo Park, California, is said to be close to choosing Morgan Stanley to underwrite the deal for a 10% stake, which could amount to up to bn.

Goldman Sachs was at one time anticipated to be the lead underwriter on the deal after it was brought on to lead a .5bn private offering of the social network’s shares early last year, attracting a flood of media attention and client interest in the deal. However, in an embarrassing turn of events the investment bank was forced to curtail the offering to clients outside of America.

Goldman is still expected to rake in huge fees as an active manager on the Facebook IPO, although it will play second fiddle to Morgan Stanley. Goldman Sachs declined to comment.

Morgan Stanley did not immediately respond to a request for comment either. © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds