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Facebook to add banks for IPO: Report

Last Updated: Saturday, March 3, 2012 - 18:48

Zeebiz Bureau

New Delhi: Social networking giant Facebook is all set to add banks in coming weeks as its Initial Public Offering (IPO) underwriters, an international news agency reported.

Reportedly, Deutsche Bank, Credit Suisse and Citigroup are among the banks that will likely be added.

Earlier in February 2011, the leading underwriters of the company's IPO which includes - Morgan Stanley, JPMorgan Chase & Co, Goldman Sachs, Bank of America Merrill Lynch and Barclays Capital- set up a USD 1.5 billion credit agreement.

Last September, Facebook increased its credit line to USD 2.5 billion and the credit line is further expected to increase to USD 5 billion, reports said.

First Published: Saturday, March 3, 2012 - 18:48
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