Ahead of its anticipated market debut, Facebook is reportedly stopping all trading of its shares on secondary markets. A report from Bloomberg citing unnamed “people with knowledge of the matter” said that the company will halt trading by the beginning of April to get a stable shareholder footing and keep prices from fluctuating ahead of its initial public offering.
Facebook declined to comment on the report.
The social network is expected to offer a $100 billion IPO this May and, as of late February, had an implied valuation of around $93 billion, the report said.
The company’s co-founder and chief executive Mark Zuckerberg caused his own stir on Tuesday when he was spotted on vacation in China. Facebook, famously, is banned in China, and has stated that it’s a priority to break into the country’s market to add to its 845 million-strong base of global users. Zuckerberg may be using the trip to build relationships in China.