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Wednesday, April 7, 2010 as of 11:14 AM ET

IAC

AT A GLANCE: Facebook IPO Prices At $38/Share

THE EVENT: Facebook Inc.

(FB) set its final price at $38 a share, as the social network gets ready for its historic initial public offering Friday.The social network priced at the top end of the range it set earlier this week. Facebook is valued at $104 billion, the biggest-ever valuation by a U.S. company at the time of its offering.HIGHLIGHTS:Nasdaq told traders Thursday that Facebook shares are expected to be released for trading at approximately 11 a.m. EDT (1300 GMT) Friday. The IPO will be released for quotation at about 10:45 a.m. in the run-up to open trading. The exchange also said it will hold a market-wide conference call at 10:15 a.m. to keep the industry informed on the IPO. The call will last two hours.Financial advisers at Morgan Stanley Smith Barney have been told their allocation of shares of Facebook for clients has been raised to a maximum of 5,000 per account, from roughly 500, according to people familiar with the situation.Here's a look at how much Chairman and Ch...

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