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The company, which had originally set the price between $28 and $35, now has put the range at $34 to $38, according to an amended S-1 it filed Tuesday morning. In addition, Facebook is offering another 50 million shares in the company, bringing the total to 337 million for a maximum haul of $12.7 billion at the high end of the range. If Facebook's shares sell at that price (or higher), then the company's valuation will be well north of $100 billion.
Facebook's share price hike shows that a report by Blooomberg stating that the IPO was meeting "weaker-than-expected demand" from institutional investors was likely off the mark.