Facebook will reportedly stop accepting orders for shares in its May 18 initial public offering after the close of business tomorrow (Tuesday, May 15).
Bloomberg reported that the social network will wrap up pre-IPO investor orders two days ahead of schedule, with Merriman Holdings Chief Executive Officer Jon Merriman telling Bloomberg:
They’re swamped with the orders that are in. They just need time to determine the price. They can send the message — the books are closing, send in your orders now.
Today’s report follows conflicting news Friday, with Bloomberg reporting that investor demand for Facebook’s IPO was weaker than expected, while Reuters reported that the offering was already oversubscribed.
Readers: Is your head done spinning yet?
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