Facebook ha empleado a los seis bancos mas grandes de US para gerenciar su salida a la bolsa, lo cual refleja su posicion convencional al respecto.
Los tres mayores underwriters son MS, JPM y GS. Esos tres bancos y otros esperan cobrar mas de $100 millones, o el 1% de la probable venta de $10 billones.
Facebook Banks On Traditional Approach
By Randall Smith
Facebook Inc.'s lineup of six major Wall Street banks to manage its initial public offering reflects the social network's determination to pursue a conventional IPO and avoid an blacklisted_site approach to the share sale, people familiar with the company said.
The trio of top underwriters, Morgan Stanley, J.P. Morgan Chase & Co., and Goldman Sachs Group Inc., are three of the best-known brands in stock underwriting. Underwriters help companies going public to price shares, promote the company to investors and allocate shares among investors.
The banks—and others expected to be added in coming weeks—stand to share in fees that could top $100 million, based on a fee schedule of 1% on a $10 billion deal.
Morgan Stanley snagged the coveted "lead-left" position on the filing with regulators, signaling its pre-eminence on the deal.
At J.P. Morgan, one of the firm's top rain makers, Vice Chairman James B. Lee Jr., personally courted Facebook officials, according to people familiar with the matter.
The bank's relationship with Facebook has also been aided by a community-giving program, under which the bank periodically contributes $3 million to $5 million to charities popular with Facebook users, people familiar with the matter have said.
Goldman Sachs, which led the competition in 2011 in all types of IPOs and played the No. 2 role on the Groupon Inc. and Zynga Inc. deals, was relegated to the No. 3 spot for Facebook. The bank was thought to have an edge after it arranged a $1.5 billion private-placement Facebook stock sale in January 2011.
But the deal nearly ran afoul of U.S. securities regulations and was limited to non-U.S. investors.
The next tier of managers includes Bank of America Merrill Lynch, Barclays Capital and Allen & Co. Barclays, based in the United Kingdom, was included over another overseas bank with a historic technology franchise, Credit Suisse Group AG.
Other big banks not included in the initial selection included Citigroup Inc. and Deutsche Bank AG. They declined to comment.
The sixth manager, Allen & Co., is a midsize private bank, unlike the five other public financial giants. The bank is known for its star-studded annual investor conference in Sun Valley, Idaho.
It has segued to expand from its traditional strength in media banking to technology under its president, Herbert Allen III.
Write to Randall Smith at
randall.smith@wsj.com