Facebook hits new high on SharesPost

Private company trading platform SharesPost released the results of its latest Facebook auction last week. In something of a rebound from April, when the price fell to $32 from a March price of $34, the hot social media company’s shares have risen to $35. According to an email from SharesPost, the deal size reached at the May 26, 2011 auction was $3.5 mn, when 100,000 shares were traded.

The timing is certainly interesting: it’s the first SharesPost auction of Facebook shares following the successful LinkedIn IPO.

Unlike previous notifications by SharesPost, no indication was given as to levels of demand or over-subscription. This is likely a reaction to discussions in various media outlets about slight changes in language concerning changes in demand (and what they could signify).

The increase in share price follows speculation that high-net-worth investors’ appetite for pre-IPO Facebook shares was declining.

Post reproduced with permission from IR magazine

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: