(AP) - Facebook Inc. and its shareholders raised $16 billion in an initial public offering of stock. It is the largest IPO by far for an Internet company. The amount raised comes from how many shares were sold by the company and its early investors _ 421.2 million _ at the IPO price of $38.
Shares sold in an IPO are typically just a fraction of the total shares a company has issued. That's why, at an IPO price of $38 per share, all of Facebook's share give the company an initial market value of $104 billion.
More shares, known as an overallotment, have been set aside if demand is heavy. If they are all sold, the IPO will raise $18.4 billion.
Here are the rest of the top 10 Internet IPOs, according to Renaissance Capital, an IPO investment adviser:
Google Inc., IPO on Aug. 18, 2004, $1.67 billion raised.
Yandex N.V., IPO on May 23, 2011, $1.3 billion raised.
Infonet Services Corp. (now part of BT Group PLC), IPO on Dec. 15, 1999, $1.08 billion raised.
Shanda Games Ltd., IPO on Sept. 24, 2009, $1.04 billion raised.
Zynga Inc., IPO on Dec. 15, 2011, $1 billion raised.
Giant Interactive Group Inc., IPO on Oct. 31, 2007, $887 million raised.
Renren Inc., IPO on May 3, 2011, $743 million raised.
Groupon Inc., IPO on Nov. 3, 2011, $700 million raised.
Orbitz Worldwide Inc., IPO on July 19, 2007, $510 million raised.
Source: Renaissance Capital
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