4 May 2012

Facebook sets share price for market listing

12:15 pm on 4 May 2012

Facebook has set a share price for its upcoming stock market listing which would enable it to raise $US12 billion.

The social network priced stock in its IPO at between $US28 and $US35 a share, valuing the company at up to $US95 billion.

Facebook's initial public offering (IPO) will be by far the largest for an internet firm, dwarfing even Google's in 2004.

The world's largest online social network has more than 900 million users worldwide.

Chief executive Mark Zuckerberg will keep tight control over the company even after the listing.

He controls the nearly 57% of the voting powerwhich means he will have final say over the biggest decisions facing the company.

The company is set to list on the Nasdaq.