Goldman to restrict Facebook's shares to non-US

New York, Jan 18: Goldman Sachs a New York based investment bank, which had already invested $450 million in Facebook, decided to restrict its scale of shares to non-US investors. Goldman is expected to raise as much as $1.5 billion from investors for Facebook.

The Goldman said, “the shares will be restricted to non-US investors because, the level of media attention might not be consistent with the proper completion of a US private placement under US law."

"In light of this intense media coverage, Goldman Sachs has decided to proceed only with the offer to investors outside the US," the company said in a statement provided to Reuters.

The Goldman Sachs on Monday, said that it regrets for the consequences of this decision, but investment bank believes that this the most wise decision.

Along with the Goldman investment Facebook also received the investment from DST, a Moscow based Internet investment group, that has invested a huge amount of $50 million in Facebook.

The latest valuation puts Facebook far ahead than companies like Yahoo, e-Bay and Time Warner, in terms of investment. Currently the California based social networking site Facebook worth $50 billion.

OneIndia News

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