Facebook Shares Rise Slightly in Debut, Following Landmark IPO

Menlo Park, Calif. -- Hours after one of the most anticipated initial public offerings (IPOs) in history, shares of social networking giant Facebook rose less than 5% -- significantly less than expected -- by late Friday in their first day of trading on the Nasdaq Global Select Market. The company late Thursday priced 421.2 million shares at $38 each -- the high end of its revised price range -- raising approximately $16 billion. The move means that shares owned by Mark Zuckerberg, Facebook's 28-year-old co-founder and CEO, are worth approximately $19.1 billion. Following a brief delay, the stock began trading under the symbol "FB" at 11:30 a.m., opening up 11% before leveling off.
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