Facebook sets $28 to $35 price range for IPO

Facebook has set a price range of $28 to $35 for its initial public offering of stock. At the high end, this could raise as much as $11.8 billion.

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Facebook has set a price range of $28 to $35 for its initial public offering of stock. At the high end, this could raise as much as $11.8 billion.

That's much higher than any other internet IPO in the past, even Google Inc in 2004.

The range came in a regulatory filing today.

The Wall Street Journal reported earlier Thursday that the price range would value Facebook Inc at $85 billion to $95 billion.