A report from the International Financing Review cites unnamed “sources close to the deal” as saying that Facebook is trying to raise $5 billion for its initial public offering.
Reports have said that the social network will file the paperwork for its IPO on Wednesday.
Th $5 billion sum is far lower than analysts and other reports have indicated.
Earlier reports had placed Facebook’s expected round of fundraising at $10 billion, which would have given the company a market capitalization of between $75 billion and $100 billion.
The Review’s report also indicated that the company has hired five companies to underwrite its IPO, with Morgan Stanley leading the way. The Wall Street Journal reported last week that unidentified sources said that Facebook would file Wednesday and that Morgan Stanley would be the main underwriter.
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