BUSINESS

Facebook sets $28 to $35 per share for IPO, could raise as much as $11.8 billion

05/03/2012 04:01 EDT | Updated 07/03/2012 05:12 EDT
NEW YORK, N.Y. - Facebook has set a price range of $28 to $35 for its initial public offering of stock.

At the high end, this could raise as much as $11.8 billion.

That's much higher than any other Internet IPO in the past, even Google Inc. in 2004.

The range came in a regulatory filing Thursday.

The Wall Street Journal reported earlier Thursday that the price range would value Facebook Inc. at $85 billion to $95 billion.