At some point, the financial stuff does not make sense. Facebook is all dressed up to list on the Nasdaq on Friday. And dressed-up is just the right word for the anticipated third-largest initial public offer (IPO) in US history because it seems less like a financial event to be watched by sober investors looking for future gains and more like a teenagers’ party on Friday. No one wants to miss out on the fun, it seems.
Agency reports say most ordinary people have only a slim chance of shares as Facebook’s underwriters are expected to give priority to their most important clients, usually institutional investors. Typically, only 5 to 30 percent of IPO shares are set aside for retail investors. Guess what? That sounds like a precious party invite.
If you happen to be one of the precious few who managed to get your hands on some shares, good luck. Otherwise, stay tuned for tomorrow for one of the largest IPO offerings in history!
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