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Facebook is planning to set the price for its initial public offering, an event rumored to take place later this month, between the high-$20s and mid-$30s per share, according to a report. The share price would value Facebook between $85 billion and $95 billion.
The official numbers will be announced after the market closes Thursday, people familiar with the matter told The Wall Street Journal .
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If the numbers are accurate, Facebook is set to become the most valuable U.S. Internet company at the time of an IPO. That record is currently held by Google, which was valued at $23 billion when it went public in 2004.