BUSINESS

Facebook raises IPO price

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NEW YORK (AP) - Facebook is raising the price at which it plans to sell stock to the public.

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World's Largest IPOs: The ten largest public offerings in history 10 Photos
World's Largest IPOs: The ten largest public offerings in history

The social networking company said in a regulatory filing Tuesday that it expects to sell its stock for between $34 and $38 per share. That's higher than a previous range of $28 to $35.

The increased range is a sign of high demand from investors to own a piece of the world's most popular social network. The initial public offering is the most hotly anticipated in years and would value Facebook at more than $100 billion. The offering is expected to happen Friday.

Facebook has more than 900 million users who log in at least once a month.

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The Wall Street Journal says that Zuckerberg, who turned 28 on Monday, has been criss-crossing the country meeting with potential investors for the past several weeks.

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