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” The drip-drop of financial news about Facebook ‘s impending initial public offering is starting to turn into a downpour. The company is planning to file its initial prospectus on Wednesday morning, Reuters is reporting, with the intention of raising a conservative $5 billion. The report, through Reuters subsidiary International Financing Review, also answers the question of which bank will lead — Morgan Stanley. The others will include Bank of America Merrill Lynch, Barclays Capital, JP Morgan, and Goldman Sachs, which had appeared to be in the lead position last year after it helped Facebook raise a $1.5 billion late-stage round . However, issues around that funding may have contributed to Morgan Stanley getting the top spot. If everything goes as planned with the SEC’s review, Facebook will likely go public in May. “



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