Facebook IPO opened by Mark Zuckerberg
Image Credit: Zef Nikolla/Facebook via Bloomberg
Facebook IPO opened on Friday, May 18, 2012 with Mark Zuckerberg remotely ringing the NASDAQ bell to start Friday’s trading in New York.
During its initial trading late in the morning, Facebook stock price was pegged at $42 per share. The price of FB stocks rose to as much as $45 per share before settling down at about $41 at 12:45 p.m. New York time.
Zuckerberg, Facebook’s chief executive officer, reportedly sold 30.2 million shares of the Menlo Park, California-based social networking company for $1.15 billion at the IPO. Reports say that most of the proceeds will be used to pay taxes associated with exercising 60 million stock options. Zuckerberg now owns 503.6 million shares of Facebook.