(Adds analysts’ comments)
By Alistair Barr and Gerry Shih
SAN FRANCISCO, April 24 (Reuters) – A recent acquisition
spurt by Facebook Inc may add about a week to the social
network’s journey to public markets, a source with knowledge of
the situation said on Tuesday.
Facebook recently agreed to buy photo-sharing start-up
Instagram for about $1 billion and on Monday the company said it
would pay $550 million for hundreds of patents from Microsoft
Corp.
The deals came weeks before Facebook was expected to enter
the final stages of what will likely be the largest Silicon
Valley initial public offering ever. The company has been aiming
for an IPO some time in May, with a roadshow typically taking
about two weeks before the stock market debut.
The delay adds another twist to the high-profile offering a
day after the company released quarterly results showing sagging
revenue and soaring operating expenses, prompting at least one
analyst to lower their valuations of the company.
Prospective investors will now have to wait about a week
longer to get a glimpse of Facebook’s roadshow, because the
company will have to discuss the impact of its recent
acquisitions with the Securities and Exchange Commission, the
source said.
The SEC’s Corporate Finance division is currently reviewing
Facebook’s IPO filing and the regulator must declare the
document
Article source: http://uk.reuters.com/article/2012/04/25/facebook-ipo-idUKL2E8FOHC820120425?feedType=RSS&feedName=consumerproducts-SP Wedding voucher directory
