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Facebook IPO: Insiders Cashing Out

Facebook Inc. on Wednesday boosted the size of its initial public offering by as much as $3 billion, as some major stockholders sharply increased the number of shares they intend to sell as part of the IPO.

In an updated filing, Facebook increased the number of shares it will offer in the IPO to 421.2 million from 337.4 million. The additional shares—which would be worth $3.2 billion at the high end of current price range—come from venture capitalists and early investors looking to cash out a greater number of their shares. The company itself isn't selling any additional shares.

Some of Facebook's biggest shareholders are now selling as much as half of their stakes in the company, just days after the company raised its expected IPO price range. For example, Goldman Sachs and Tiger Global now plan to sell as much as 50% of their stakes, up from 23% and 7%, respectively.


http://www.wsjonline.com