Facebook may not go public on May 18 (rumor)

Summary:The U.S. Securities and Exchange Commission has still not approved Facebook's filing for an initial public offering. As a result, the company may not go public on Friday, according to a recent rumor.

As if we needed more speculation about the social networking giant leaving its private life behind next week, there are now whispers saying Facebook won't be going public on Friday (and not because of the FTC). This time, the reason is apparently that the U.S. Securities and Exchange Commission (SEC) has yet to approve the company's filing for an initial public offering (IPO). Earlier this week, Facebook amended its IPO filing for the sixth time.

The news comes from media reporter Julia Boorstin, who sent out the following message on Twitter:

Facebook says May 18 IPO is uncertain pending SEC approval of S-1. Roadshow meeting over, mobile, ads in focus. #facebookipo

CNBC then reported it on air and also essentially retweeted the message on Twitter:

Facebook says May 18 IPO is uncertain pending SEC approval of S-1. Roadshow meeting over, mobile, ads in focus. (via @JBoorstin)

The first rumor said Facebook will go public in the third week of May: the days of 14, 15, 16, 17, or 18. A second rumor narrowed it down to just two days: May 17 or May 24, claiming the choice will come down to how smoothly the Instagram acquisition goes. A third rumor said May 17, 2012 is the likely candidate.

All three warned, however, that anything can still happen, a fourth one said everything has been pushed back to June. A fifth one concluded shares will be priced on May 17, and trading will follow in the morning. In other words, May 18 is the big day.

My bet is Facebook will still go public this Friday. What do you think?

See also:

Topics: Social Enterprise, Banking, Legal

About

Emil is a freelance journalist writing for CNET and ZDNet. Over the years, he has covered the tech industry for multiple publications, including Ars Technica, Neowin, and TechSpot.

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