Facebook To Sell Shares

Posted on: 4:11 pm, December 19, 2013, by , updated on: 08:12pm, December 19, 2013

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(Menlo Park, CA) Facebook is on track to sell 70 million more shares of stock.

More than half of those will be sold by the social networking site’s founder, Mark Zuckerberg.

It comes as Facebook prepares to be added to the S&P’s 500 index after the close of trading Friday.

That could drive up demand for shares, but today’s filing with the SEC means current shareholders’ stakes will be diluted in value.