Facebook's initial public offering is set to take place later this week. But a key component in that process -- accepting orders from investors -- is ahead of schedule, according to a new report.
The world's largest social network is planning to stop taking orders for its IPO as early as tomorrow, according to Bloomberg, citing a source. Facebook had initially anticipated calling off its orders on Thursday, but due to stronger-than-expected demand, it's pushing its schedule ahead somewhat.
Facebook last week set out on its roadshow across the U.S. Prior to an IPO, a roadshow is held to give companies the chance to woo would-be investors. Those investors, based on what they think of the company's future growth opportunities, then decide whether they should invest in the firm. In some cases, companies have trouble attracting investors. In others, it's easy. According to Bloomberg's source, it's been easy for Facebook.
Facebook plans to price its shares between $28 and $35 when it goes public later this week. The company's valuation will stand at $96 billion if it ends up at the top end of that range.