Facebook CEO Mark Zuckerberg delivers a keynote address during the...

Facebook CEO Mark Zuckerberg delivers a keynote address during the Facebook f8 conference. (Getty) Credit: Facebook CEO Mark Zuckerberg delivers a keynote address during the Facebook f8 conference. (Getty)

Facebook's initial public offering was priced at the top of its targeted range to raise more than $16 billion in anticipation of a spike in the stock's value when it begins trading on Friday.

Facebook is selling a 15% stake at $38 per share, giving the company a valuation of $104 billion - higher than Hewlett-Packard and Dell combined.

Investor enthusiasm for Facebook shares comes despite questions about the company's long-term money-making capabilities and after lower revenue last month.

Facebook could raise more than $18.4 billion, making the IPO the second-largest in U.S. history after Visa.

(with Reuters)

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