Morgan Stanley Leading Facebook IPO: Report

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Morgan Stanley (MS) will lead the initial public offering for Facebook, which is expected to file plans to go public today, four sources told Bloomberg. Other banks, including Goldman Sachs (GS) and JPMorgan Chase (JPM) and Bank of America (BAC) will also get a piece of the pie, but it appears that MS will get the largest piece.

Morgan Stanley shares rose 5.5% in midday trading.

It’s a big win for the bank, which won the biggest share of Internet IPO’s last year. The Facebook deal could generate as much as $500 million for the investment banks.



Original Article Source by Barrons.com