Facebook plans to raise the price range for its initial public offering to US$34 ($44) to US$38 a share from the previous range of US$28 to US$35, according to a person with knowledge of the matter.
The new range may be announced in a regulatory filing as soon as tomorrow, said the person, who asked not to be identified because the plans have not been made public.
Facebook, already planning the largest internet company IPO ever, would raise as much as US$12.8 billion and seek a valuation of as high as US$104.2 billion, based on the upper end of the new range.
Chief executive Mark Zuckerberg, in a roadshow to pitch the IPO to investors, might be winning over sceptics who initially baulked at buying the shares, said Erik Gordon, a professor at the University of Michigan's Ross School of Business.
"Raising the range would be the best signal of what the underwriters are hearing from their institutional buyers who have seen the roadshow," Gordon said. "Despite the doubts, the buyers like what they're hearing."