Facebook expands IPO size, aims for USD 15bn: Source

Facebook Inc is increasing the size of its IPO by 85 million shares to about 422 million, a source familiar with the matter told Reuters, raising more than USD 15 billion in Silicon Valley's largest market debut.

The increased volume comes just after the world's No. 1 social network hiked its price range to USD 34 to USD 38 a share, from USD 28 to USD 35 previously.

Facebook had originally intended to sell about 337.4 million shares. At a mid-point of USD 36, the company would raise USD 15.2 billion in one of the largest US initial public offerings ever.