Facebook IPO closes at US$38.23 after first day’s trading

18 May 2012

Pictured: Mark Zuckerberg gets ready to ring the Nasdaq bell

One of the most eagerly awaited IPOs in tech industry history ended not far from where it started – Facebook opened at US$38 and while share soared to US$45 at one point by the end of the first day of share trading closed at US$38.23.

At the end of its first day’s trading Facebook achieved a market capitalization of US$104bn.

The IPO wasn’t quite the ‘pop‘ that Silicon Valley had been expected and to many it feels like a bit of an anti-climax.

But for Facebook’s investors plus thousands of Facebook employees including 200 or so in the company’s Dublin office it was an enriching day.

It is understood that in the Dublin office a handful of employees stood to gain a seven-figure sum based on the value of their shares while 130 employees saw the value of their shares reach six-figure sums.

The valuation means that founder Mark Zuckerberg’s shareholding is worth US$19bn, making him the 29th richest person in the world.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years