(Corrects estimated amount to be paid to banks in second paragraph.)
Facebook Inc. (FB:US)’s underwriters are collecting a fee of 1.1 percent for handling the company’s initial public offering, people with knowledge of the matter said.
The world’s largest social networking service today raised $16 billion in the largest initial public offering for a technology company. That indicates that the fees paid to banks led by Morgan Stanley (MS:US) will total about $176 million. The people asked not to be identified because agreements with underwriters are private.
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