Facebook increases IPO price

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Tuesday, May 15, 2012

Facebook increased the price range it expects to sell its stock for to between $34 and $38 per share.

The IPO is expected to be completed late Thursday and begin trading on the Nasdaq Stock Market on Friday under the ticker symbol "FB."

The increased range is a sign of high demand from investors to own a piece of the world's most popular social network. The initial public offering is the most hotly anticipated in years and would value Facebook at more than $100 billion.

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