Facebook's flotation will value company at up to $96bn

The flotation will set a new record.

New Statesman
A collage of profile pictures makes up a wall in the break room at the new Facebook Data Center on April 19, 2012 in Forest City, North Carolina. Photograph: Getty Images

Facebook has put a price on its shares for the upcoming initial public offering, putting them at between $28 and $35.

It values the company at between $85bn and $95bn, which falls below the $100bn which has been anticipated by the markets.

Earlier this year the share sale was predicted to raise $10bn, but now Facebook has said this figure could change to $13.6bn. This would be a new record for internet firms, surpassing even Google. 

Facebook is set to start promoting the share offering on Monday, and on 18 May shares are expected to start trading under the symbol "FB".