Facebook raises IPO price range

New York, NY, United States (4E) – With its highly anticipated IPO just a few days away, Facebook has raised the target price range for its initial public offering to $34 to $38 a share, up from the original $28 to $35 range set by the social network giant earlier this month.

Facebook executives and a plethora of underwriters have spent the past two weeks on a road show talking up potential investors and determining the demand for the company’s stock.

One investor told CNN Money that investor response has been “nothing short of pandemonium.”

If Facebook, which will trade under the symbol “FB,” does price at the high end of the amended range, the company’s valuation would be roughly $81.2 billion on its debut.

The new range is not binding and could rise even further.

The company expects to set its final price Thursday evening and to start trading Friday.