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Facebook sets share price in $100bn flotation

17 May 2012 Last updated at 23:03 BST

Facebook has priced its shares ahead of one of the most eagerly-anticipated share flotations in recent stock market history.

The social network site said on Thursday that it valued shares at $38 (£24) each, and they would begin trading in New York on Friday.

The share price values Facebook at more than $100bn.

Rory Cellan-Jones reports.