Facebook IPO date set

Facebook shares will float on the US stock market on May 18th, with a “roadshow” for the company’s initial public offering to begin next week.

The eight-year-old social network, with 900 million users worldwide, is expected to have a valuation of around $100 billion and is the most eagerly awaited flotation since Google’s in 2004. It is expected to raise $5 billion through its share offering.

The two-tier share structure set up for the company means founder Mark Zuckerberg will retain control of Facebook by holding more voting shares.

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