Sheryl Sandberg sells US$91m of Facebook stock

NEW YORK CITY, US: The number two executive at social networking giant Facebook, Sheryl Sandberg, has sold US$91m of the company's stock, according to US securities filings.
Sheryl Sandberg sells US$91m of Facebook stock

Facebook shares sold at their initial public offering in May 2012 for US$38, but soon after dropped in value. Only in the past days it has recovered and surpassed that value.

The company shares closed Friday at US$38.50. Sandberg still holds more than 25 million shares, representing approximately US$1bn, according to the filing, released late Friday.

Source: AFP, via I-Net Bridge


 
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