Facebook moves to maintain trading

Facebook sparked fresh talk of an IPO Friday, when it revealed its third stock-split to maintain trading levels in the secondary market.
The firm’s five-for-one split aims to bring its share value back in-line with other private companies, after some trades reached as high as $80 (€58.45) to $85 per share, Reuters reported.
Facebook shares typically traded at $10 to $10.50 in 2009, the news site said.
Spokesman Jonny Thaw said the move was necessary because the stock value had “risen significantly” since the last stock-split – a four-for-one offer – in 2007, and to offer larger portions of stock without diluting shares already owned, CNET.com reported.
However, the action provides some insight into the total value of Facebook, the world’s largest social network with over 500 million users, the BBC said, noting that trades on secondary market SharesPost of $72 to $76 each value Facebook at $33.7 billion.
Thaw said the latest stock-split – Facebook’s third since being founded in 2004 – was not a sign of an imminent IPO.
Board member Peter Thiel last week said the firm wouldn’t consider going public before late 2012.