Facebook raises IPO price as offering nears

Facebook raises IPO price as offering nears

NEW YORK (AP) — Facebook today increased the price range at which it plans to sell stock to the public, as investor enthusiasm in the offering continued to mount and boost the potential value of the world’s most popular social network. The Menlo Park, Calif. company said in a regulatory filing that it now expects to sell its stock for between $34 and $38 per share, up from its previous range of $28 to $35. At the upper limit of $38 per share, the sale would raise about $12.8 billion.