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Facebook could file for its long-awaited initial public offering as early as Wednesday, the Wall Street Journal reported Friday.
The social-networking company is expected to pick Morgan Stanley (NYSE: MS - News) as the lead underwriter for the IPO, the Journal said. The Wall Street bank has been the most popular choice among internet IPOs in recent years.
The company is currently looking at a valuation of $75 billion to $100 billion, according to the report.
The impending IPO - expected to raise $10 billion - is a prized trophy for investment banks, set up a fierce competition on Wall Street, particularly between front-runners Morgan Stanley and Goldman Sachs
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