Sunday, March 4, 2012

Facebook adding banks for initial public offering

SAN FRANCISCO (REUTERS) - Facebook will add banks in coming weeks to help underwrite its initial public offering (IPO), two sources familiar with its plans said on Friday.
Deutsche Bank, Credit Suisse and Citigroup are among the banks that will likely be added, said the sources, who requested anonymity because they were not authorised to speak publicly on the matter.
Last September, Facebook increased its credit line to US$2.5 billion (S$3.1 billion).
One of the sources said that the credit line may be increased to about US$5 billion in the future.

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