As part of its public offering roadshow, Facebook executives met Tuesday evening with managers of T. Rowe Price, whose stake in the social media company could be worth as much as $637 million in the public market.
Price owns more than 18 million Facebook shares in its mutual funds as well as in accounts it manages for clients, according to documents filed with the Securities and Exchange Commission.
Facebook priced its initial public offering between $28 and $35 per share, which means Price's holdings could range from $509 million to $637 million.
All told, Price is one of the largest holders of Facebook's Class A shares, with a 5.2 percent stake, according to the documents. It also owns more than half a percent of the company's Class B shares, which come with greater voting power.
Price was one of the earliest investors in Facebook, which is expected to make its public debut on May 18. Facebook executives were meeting this week with investors before the company's initial public offering.Copyright © 2015, Los Angeles Times