WWD.com/media-news/fashion-memopad/facebook-prices-shares-for-ipo-5891763
fashion-memopad
fashion-memopad

Facebook Prices Shares for IPO

Also set to go public is West Coast action sports retailer Tilly’s.

FACEBOOK PRICES ITS SHARES: Facebook, set to go public with its initial public offering on May 18, has priced its shares at between $28 and $35 each, raising between $11.8 billion to $13.6 billion.

The current pricing range would value Facebook at between $85 billion to $95 billion.

RELATED STORY: Facebook Profits Decline in First Quarter >>

Also pricing its shares is West Coast action sports retailer Tilly’s, which plans to raise $100 million today when it goes public, with each share priced between $11.50 to $13.50.

Tilly’s is offering 7.6 million shares and could reach a market capitalization of $345 million at the midpoint of its pricing range. For the fiscal year ended Jan. 28, Tilly’s operated 140 stores in 14 states. The stores average 7,800 square feet and are located in both mall and off-mall sites.

Private equity firm The Carlyle Group, which priced its shares Wednesday night at $22, raised $671 million Thursday and hit a market capitalization of $6.7 billion. In its debut, the shares reached an intraday high of $22.45 and a low of $21.85 before closing essentially flat at $22.05.