Facebook has reportedly hired three more banks to underwrite its IPO, bringing the total number of financial institutions on that merry bandwagon to nine — not inluding Ernst & Young, which is overseeing accounting and autiding for the deal.
While shares of the hottest initial public offerings go almost entirely to the biggest clients of the Wall Street banks that oversee the stock sale, Facebook's executives and underwriters have discussed raising the number of shares ... Read Post
Facebook Inc. hired Deutsche Bank AG, Credit Suisse Group AG and Citigroup Inc. to work on its $5 billion initial public offering and give it access to more credit, a person with direct knowledge of the situation said. Facebook’s ne... Read Post
Facebook's IPO is looking more disastrous by the day. Regulators are now probing reports that underwriter Morgan Stanley and other banks cut their revenue forecasts for the company just days before the IPO—but only advised major cli... Read Post