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Follow on Google News | "CNBC: Facebook IPO Draws Highest Ever Retail Demand"Facebook IPO Draws Highest Ever Retail Demand. Small investor demand for Facebook has been higher than for any other IPO in history, according to experienced market participants and people close to the deal.
By: admin@hamiltonequity.com The decision on how large a slice to give retail investors was being hammered out overnight, according to several other people close to the proceedings, and was expected to be more than 15 percent but less than 25 percent. Up to now, the November 2010 General Motors [GM 21.5105 -0.0995 (-0.46%) In recent days, online brokerages like E*Trade and smaller underwriters who were involved with the deal were overwhelmed by retail demand, according to reports and people at those firms. The experience at the larger underwriters was no different, say other people involved with the process. To wit: One JPMorgan [JPM 33.29 -0.64 (-1.89%) A Facebook spokesman declined to comment. Facebook priced at $38 per share Thursday, which was the operative price for much of the day leading up to the announcement. Facebook’s CEO Mark Zuckerberg rang the opening bell along with Nasdaq CEO Bob Greifeld. The company's stock is expected to begin trading at 11:00 am ET today. Friday, 18 May 2012 End
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