SEC investigating Fcebook's IPO
The Securities and Exchange Commission’s probe into trading of Facebook shares on private marketplaces has some asking whether the regulator might pressure the social network to have an initial public offering.
An article in The New York Times says the SEC gave Facebook permission to grant restricted stock to its employees without having to list them publicly and make the financial disclosures required of public companies.
Federal law draws the line between public and private at 500 shareholders. Facebook obviously has more than twice that number of employees, but the SEC might be concerned with how many stakeholders aren’t employed by the social network.
The auctions on SecondMarket and SharesPost of Facebook holdings are currently limited to professional investors. But new funds that own some of these shares potentially give access to a wider array of buyers.
Related news
Related news
Every sip is a new chapter – the BB wine and champagne family is completely renewed and takes the next level
By analyzing and rethinking every stage of winemaking, the Balatonboglár-based…
Read more >NGM: decisions have already been made on the development plans of more than fifty companies in the Demján Sándor Capital Program
Despite pressure from Brussels, the government is doing everything it…
Read more >Budapest among the world’s 50 most innovative cities
Budapest has been named one of the world’s 50 most…
Read more >