7 Jun 2012

Facebook shareholders offered $US40m for opening day glitch

11:56 am on 7 June 2012

Facebook shareholders have been offered $US40 million by the Nasdaq stock exchange for a computer hitch that stopped them trading on debut day.

Some investors had hoped to sell the much-hyped shares on the issue day to take advantage of buyer demand.

But technical problems kept many investors from buying shares in the morning or selling them later in the day.

The BBC reports the payout is meant to reimburse those who lost money because of the fault.

The opening of trading was delayed by half an hour and some investors were unable to tell whether their orders were processed, while others said they were left holding shares they did not want.

Facebook's shares went on sale at $US38 per share on 18 May, but have floundered since, falling to around $US25 per share.