Facebook raises IPO price as offering nears

Facebook raises IPO range to $34-$38 per share; offering would value co. at more than $100M

Associated Press
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Screens outside the Grauman's Chinese Theatre on Hollywood Blvd. advertise for people to "Become a Fan" of the Theatre on Facebook is seen at the Los Angeles premiere of the film "What to Expect When You're Expecting," Monday, May 14, 2012, in Los Angeles. The social network's stock is expected to start trading on the Nasdaq stock exchange later this week after it's initial public offering. (AP Photo/Danny Moloshok)

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

The social networking company says in a regulatory filing Tuesday 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 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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