Facebook has set the share price for its upcoming initial public offering (IPO) at between $28 and $35 per share, valuing the company at between $85bn-$95bn.

Facebook将首次公开招股，每股28至35美元，该公司估价约在850亿至950亿美元。

The IPO is set to be the largest ever for an internet firm, bigger than Google's valuation of $23bn in 2004.

IPOs are when companies list shares on the stock market for the first time.

Facebook is set to list on the Nasdaq and would rival Amazon's and Cisco System's current market values.

It is thought that Facebook will start promoting the share offering on Monday. Its shares are expected to start trading under the symbol "FB" on 18 May.

More than 10% of the business is being sold, which is expected to raise about $12bn for the company.

The eight-year-old social network has 900 million users worldwide and made a profit of $1bn last year.

Mobile growth

There is expected to be a huge take-up, though some investors¹ have voiced concerns about the company's longer-term growth.

Last week, Facebook reported its first drop in revenue between quarters for two years.

But during a video presentation on Thursday Facebook executives sought to allay²（减轻，缓和） those concerns, pointing to mobile as an area for growth that the company will invest heavily in.

Last month Facebook said it would buy the fast-growing mobile phone photo sharing app Instagram for $1bn, its largest purchase ever.