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Posted by on Sep 5, 2012 in Companies, Economy |

Facebook cancel new share sale, Zuckerberg will not sell their titles in one year

Facebook cancel new share sale, Zuckerberg will not sell their titles in one year

(Cc) eston

The share prices of have done nothing but fall: From $ 38 for which began in May, shares of the company today closed at USD $17.73, a new low.

With this, the company does not want to put more stock in the market, considering that when supply increases, the price, so canceled the second round of bidding had planned. Originally the company expected to sell 122 million shares in a secondary offering.

In addition, the company’s CEO, Mark Zuckerberg, announced it will not sell any of its shares for one year. Principals Marc Andreessen and Don Graham also refrain from disposing of paper, except to cover tax payments.

Facebook said it will use cash or credit to pay the $1,900 million in taxes should respect employees restricted stock. Otherwise, it would have sold shares to cover these costs.

Link: Facebook cancels secondary offering, Zuck and board members will not sell shares to keep off the market (TechCrunch)

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