Facebook Inc is taking the next step on its IPO journey and has summoned research analysts from Wall Street banks to its Menlo Park headquarters early next week for a pre-roadshow briefing to discuss the finer points of its business and books.
The world’s largest social network, which is racing toward what would be Silicon Valley’s largest ever initial public offering, will not disclose new information during the meeting with analysts.
Instead, it will outline its strategy and answer questions on how to analyze its operations and help analysts build models on its financials, two sources told Reuters on condition of anonymity because the meeting is not public.
Called a “due diligence meeting”, such pre-roadshow pow-wows are standard fare for future debutantes.
It is not clear how many analysts have been invited. One source said analysts from five to 10 of the largest banks underwriting Facebook’s IPO will likely attend the meeting.
A second source said analysts from most banks helping underwrite the offering have been invited to the meeting, scheduled for Monday. Both sources would not elaborate because of the conditions of the presentation. (more…)