Hindustan Times (Patna) - - YEAR REVIEW 2012 -

In May, so­cial net­work­ing gi­ant Face­book made its much-hyped ini­tial pub­lic of­fer­ing (IPO). It also re­placed In­dian IT ma­jor In­fosys in the Nas­daq 100 in­dex.

WHY WE CARE: Be­cause the re­sponse to the IPO was dubbed a ma­jor flop. Face­book’s share price wiped more than $11 bil­lion off the com­pany’s mar­ket cap­i­tal­i­sa­tion.

BLOOMBERG SAID: “The IPO pro­duced the worst five-day re­turn among the largest US deals of the past decade.”

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