Trading in the hottest social network on the web continues, even after recent hiccups in the initial public offering market. SharesPost revealed in an email to its members today a clearing price of $35 for the Facebook auction that closed June 22, 2011.
The transaction involved 100,000 shares of Class B common stock. The last SharesPost auction in Facebook stock, which was completed on June 6, 2011, also attained a clearing price of $35 a share. Trading on SharesPost may not be indicative of how Facebook would fare on public capital markets, given that trading is infrequent and the stock is relatively illiquid.
The LinkedIn IPO was seen by some as validation of SharesPost valuations, as the company went public at a price above its pre-IPO SharesPost valuation and popped on the first day of trading. Yet, recent weakness in the IPO market suggests that such optimism should remain in check.
Pandora opened strong on its first day of trading, only to give back most of its gains by the closing bell. Vanguard Health Systems had a relatively week IPO, raising only $450 mn of the $550 mn in capital originally anticipated. Pioneer Power Solutions and Stewart & Stevens pulled their planned IPOs this week.
Rumors are circulating that Facebook could file to go public as early as October, and that an IPO could come in the first quarter of 2012.