Facebook founder Mark Zuckerberg CEO will sell for about $ 2.3 billion of shares of its community network, mainly for tax reasons , but it does marginally reduce its influence within the group .
These sales are part of a larger operation that began Wednesday, December 18th placing on the market of a large package of securities Facebook, which should enable the group itself raised nearly $ 1.5 billion and could, if may enable it to finance acquisitions.
According to a press release and a market released Wednesday by Facebook, the total operation is 70 million shares .
The largest share will be provided by Mark Zuckerberg : he expects to dispose of 41,350,000 shares , which at the closing Wednesday night represents a value of $ 2.27 billion .
Zuckerberg will retain 56.1% of voting rights==>
According to a tally done by mid-February , Mark Zuckerberg held 29.3% of Facebook . But his influence within the group is important because much of this participation consists of preferred shares, known as " Class B" , coupled with 10 votes each.
After the sale of securities announced Wednesday , the CEO will retain 56.1% of the voting rights within the group , slightly less than the 58.8% it had so far, Facebook says in its paper stock , available on the site of the U.S. stock Constable (SEC).
In addition proxies enable it to exercise the voting rights of other shareholders , its share fell from 65.2% to 62.8 %.
The Facebook group will itself offer under offer 27 million shares (representing 1.48 billion at closing Wednesday ), the balance being provided by shareholders other than the CEO.
To new acquisitions?
In its stock release, Facebook does not mean "use part of the proceeds for acquisitions of businesses , technologies or other complementary assets ." However, it provides not having precise currently plane .
The largest acquisition made to date by Facebook was that of sharing app Instagram photos last year, for which he had paid the final $ 747 million .
Facebook has since confirmed the purchase of several small startups, but may have higher ambitions : the "Wall Street Journal" and was reported last month in an attempt to redeem the application of mobile messages Snapchat 3 billion dollars, an offer apparently rejected by the leaders of the society.
Zuckerberg sells his shares " to pay taxes "
In terms of Mark Zuckerberg, Facebook said it expected that it uses the "majority " of its own revenues " to pay taxes ." The CEO will indeed exercise of stock options for 60,000,000 shares of class B, but will have to pay taxes on this transaction .
It will therefore transform 41,35 of the 60 million ordinary shares preference shares ( Class A, accompanied by a single vote) . It is these actions that he places on the market.
Facebook also evokes the project to the CEO in December " a donation of approximately 18 million shares of class B". The recipient of this gift is not identified , but Mark Zuckerberg and his wife Priscilla had already donated an identical volume last year an American organization concerned with education and health .
Facebook CEO recalled on this occasion its commitment to give the majority of its revenue to charity.
At the NYSE , the Facebook share was 1.18% at $ 54.91 at 15:45 ( French time) .
These sales are part of a larger operation that began Wednesday, December 18th placing on the market of a large package of securities Facebook, which should enable the group itself raised nearly $ 1.5 billion and could, if may enable it to finance acquisitions.
According to a press release and a market released Wednesday by Facebook, the total operation is 70 million shares .The largest share will be provided by Mark Zuckerberg : he expects to dispose of 41,350,000 shares , which at the closing Wednesday night represents a value of $ 2.27 billion .
Zuckerberg will retain 56.1% of voting rights==>
According to a tally done by mid-February , Mark Zuckerberg held 29.3% of Facebook . But his influence within the group is important because much of this participation consists of preferred shares, known as " Class B" , coupled with 10 votes each.
After the sale of securities announced Wednesday , the CEO will retain 56.1% of the voting rights within the group , slightly less than the 58.8% it had so far, Facebook says in its paper stock , available on the site of the U.S. stock Constable (SEC).
In addition proxies enable it to exercise the voting rights of other shareholders , its share fell from 65.2% to 62.8 %.
The Facebook group will itself offer under offer 27 million shares (representing 1.48 billion at closing Wednesday ), the balance being provided by shareholders other than the CEO.
To new acquisitions?
In its stock release, Facebook does not mean "use part of the proceeds for acquisitions of businesses , technologies or other complementary assets ." However, it provides not having precise currently plane .
The largest acquisition made to date by Facebook was that of sharing app Instagram photos last year, for which he had paid the final $ 747 million .
Facebook has since confirmed the purchase of several small startups, but may have higher ambitions : the "Wall Street Journal" and was reported last month in an attempt to redeem the application of mobile messages Snapchat 3 billion dollars, an offer apparently rejected by the leaders of the society.
Zuckerberg sells his shares " to pay taxes "
In terms of Mark Zuckerberg, Facebook said it expected that it uses the "majority " of its own revenues " to pay taxes ." The CEO will indeed exercise of stock options for 60,000,000 shares of class B, but will have to pay taxes on this transaction .
It will therefore transform 41,35 of the 60 million ordinary shares preference shares ( Class A, accompanied by a single vote) . It is these actions that he places on the market.
Facebook also evokes the project to the CEO in December " a donation of approximately 18 million shares of class B". The recipient of this gift is not identified , but Mark Zuckerberg and his wife Priscilla had already donated an identical volume last year an American organization concerned with education and health .
Facebook CEO recalled on this occasion its commitment to give the majority of its revenue to charity.
At the NYSE , the Facebook share was 1.18% at $ 54.91 at 15:45 ( French time) .
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