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Facebook Chose Morgan Stanley To Take The Lead On Its Planned IPO

Facebook Said To Hire Morgan Stanley For IPO

Facebook Inc., the world’s largest social-networking service, chose Morgan Stanley (MS) to take the lead on its planned initial public offering, four people with knowledge of the matter said.

Morgan Stanley gains the coveted lead-left position on the IPO filing, said the people, who asked not to be identified because the matter is private. That designation usually means a larger share of the fees collected by securities firms on deals. Facebook will file plans with regulators today to raise $5 billion, though the amount may rise, two people said. Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM), Barclays Plc (BARC) and Bank of America Corp. (BAC) will help with the sale, people said.



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