Bloomberg News

Facebook Underwriters Said to Support Stock at Near $38 a Share

May 18, 2012

Facebook Inc. (FB:US) underwriters purchased the company’s stock to keep it from falling below $38 a share after debuting on the Nasdaq Stock Market, people with knowledge of the matter said.

The bankers supported the stock after Nasdaq OMX Group Inc. (NDAQ:US) faced difficulties delivering trade execution messages after the initial public offering, said one of the people, who asked not to be identified because the transactions are private.

Jonathan Thaw, a spokesman for Menlo Park, California-based Facebook, declined to comment.

To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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Companies Mentioned

  • FB
    (Facebook Inc)
    • $71.29 USD
    • 2.02
    • 2.83%
  • NDAQ
    (NASDAQ OMX Group Inc/The)
    • $41.15 USD
    • -0.30
    • -0.73%
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