Meta Platforms’s upsized $25 billion share sale attracted demand for about five times the available shares, according to people familiar with the offering, Bloomberg reported, as the company seeks to raise $98 billion for its AI spending.
More than half of the shares in the common stock offering were allocated to long-only and existing investors, said the people, who asked not to be identified because the information is private. The investors taking the 15 largest stakes in the offering accounted for about 70% of the shares, the people said.
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