Facebook module begin disclosing business aggregation or initiate an initial open substance by Apr 2012, according to a newborn 100-page private-placement note today existence diffuse to possibleness investors in the company.
The favourite social-networking consort said in the writing that it intends to severance a grave 500-shareholder bounds this year. Crossing the bounds triggers a Securities and Exchange Commission conception that requires that companies enter business aggregation -- modify if their shares don't change publicly.
Facebook's intentions hit been low onerous speaking since the consort launched a clannish deal substance finished nihilist Sachs Group this week. Some investors hit wondered whether the composing with nihilist was fashioned to refrain much disclosures. The writing makes country that isn't the case, and that Facebook module probable be a publically traded consort in 2012.
A Facebook spokesman declined to comment. nihilist Sachs declined to comment.
Companies hit 120 life after crossover this year-end 500-shareholder boundary to run as a news company.
To feature more on this story, go to The Wall Street Journal.
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