FX.co ★ Zuckerberg to sell 41.4 million Facebook shares

Facebook founder and CEO Mark Zuckerberg will sell 41.35 million of his Facebook shares, the company said in a filing on December 19.
According to Bloomberg, the follow-on sale will be the first that Facebook has filed for since its May 2012 initial public offering (IPO).
Zuckerberg will exercise an option to buy 60 million shares of Class B stock which will be further converted into Class A shares and offered investors. He plans to use the proceeds of $2.3 billion to pay taxes he will incur in connection with these operations. Thus, Zuckerberg's sale will reduce his voting power to 56.1 percent from 58.8 percent. Board member Marc Andreessen will also sell 1.65 million shares.
Meanwhile, Facebook will offer 27 million shares as well. Bloomberg said overall value of Facebook shares is estimated at $3.9 billion. Facebook said it will use the proceeds for working capital and other corporate purposes.
As of December 19, Facebook shares traded at $54.09, while the company’s market capitalization was $135.33 billion. The number of regular monthly Facebook visitors rose to 1.19 billion in September 2013. The net worth of Mark Zuckerberg is estimated at $19 billion. Facebook priced its IPO at $38 per share in May 2012.