Facebook IPO pricing at $38 per shareMay 17, 2012: 2:14 PM ET
FORTUNE -- The Wall Street Journal is reporting that Facebook (FB) "is close to pricing" its IPO at $38 per share, which is the top of its already-increased $35-$38 offering range. That would mean the company raised $16 billion, or $18.4 billion if the underwriters' over-allotment was exercised (which everyone assumes it will be).
[UPDATE: Facebook makes it official]
At $18.4 billion, Facebook would be the second-largest IPO in history -- just behind Visa's (V) $19.65 billion offering in March 2008 and just ahead of General Motors (GM) raising $18.145 billion in November 2010.
The $38 per share value, including the over-allotment, would give Facebook an initial market cap of nearly $84 billion. Fully-diluted, the figure surpasses $100 billion.
A Facebook spokeswoman declined to comment.
More to come shortly. In the meantime, some related links: