Goldman Limits Facebook Stock to Offshore Investors
Goldman Limits Facebook Stock to Offshore
Investors
It appears as if US investors looking to get their hands on a piece of Facebook will be disappointed as Goldman Sachs has announced it will restrict the offering of Facebook stock to offshore investors only. The investment firm cited “intense media coverage” and concerns over the investment's adherence to US securities regulations as factors in its decision.
The announcement comes on the heels of Goldman approaching its top clients with the offer to own some Facebook shares via a $1.5 billion private offering. That capital raise came in conjunction with a private investment of $450 million doled out by Goldman and a Russian investment firm in a deal that valued the networking giant at some $50 billion.
The goal of any disbursement of Facebook stock by Goldman would be to keep the total number of investors under 500, as any companies with more investors than that would be required to file public disclosure statements with the Securities and Exchange Commission.
It appears as if US investors looking to get their hands on a piece of Facebook will be disappointed as Goldman Sachs has announced it will restrict the offering of Facebook stock to offshore investors only. The investment firm cited “intense media coverage” and concerns over the investment's adherence to US securities regulations as factors in its decision.
The announcement comes on the heels of Goldman approaching its top clients with the offer to own some Facebook shares via a $1.5 billion private offering. That capital raise came in conjunction with a private investment of $450 million doled out by Goldman and a Russian investment firm in a deal that valued the networking giant at some $50 billion.
The goal of any disbursement of Facebook stock by Goldman would be to keep the total number of investors under 500, as any companies with more investors than that would be required to file public disclosure statements with the Securities and Exchange Commission.
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