Facebook set for IPO next week seeking valuation of upto $100 bln

London, Jan 28 (ANI): Social-networking giant Facebook is planning to file papers for its Initial Public Offering as early as next week, that could value the website at 75 billion to 100 billion dollars.

Under US law, Facebook will have to start disclosing its financial results from April because it has over 500 investors.

The IPO, which is expected to raise about 10 billion dollars, is set to make its founder Mark Zuckerberg a billionaire several times over.

The group is thought to be keen to list on the New York Stock Exchange, rather than the more tech heavy Nasdaq, The Telegraph reports.

According to the paper, US investment bank Morgan Stanley, which played a role in the IPOs of several internet-based companies last year, is expected to be Facebook's lead adviser.

Goldman Sachs , which helped Facebook raise 1.5billion dollars at the start of 2010, is also said to have a role in the launch, according to The Wall Street Journal report.

Meanwhile, PrivCo, a US group that studies privately held companies, claimed that Facebook was targeting an IPO price of 38 to 40 dollars for its shares, with a target value for the company of 90 billion to 95 billion dollars. (ANI)