Facebook’s founder and CEO Mark Zuckerberg rang the opening bell at the Nasdaq stock market Friday, signaling the start of share dealing in the U.S.
Facebook’s first trade was registered as $43, up about 13 percent from an IPO price of $38.
The opening trade was delayed by around 30 minutes. The stock was originally due to begin trading at 11 a.m. ET, but was delayed as traders experienced problems with changing and canceling orders they had submitted to the Nasdaq, The Wall Street Journal reported. (You can track the performance of Facebook’s stock price here).
Facebook went public after the close of trading Thursday at $38 a share, raising $16 billion in a landmark initial public offering that values the company at more than $100 billion.
Investment banks organizing the stock offering set the price at the top end of the range of $34 to $38 per share estimated by Facebook in a regulatory filing earlier this week.
The IPO will leave Zuckerberg in control of the company, with more than 50 percent of the voting shares, and make him fabulously wealthy in the process, with a stake valued at some $19 billion.
Other early investors in Facebook also will make a killing.
Stocks are expected to rise Friday, but major indexes are setting up to close their worst week of the year, while Facebook's debut could help lift battered investor sentiment.
The S&P has fallen 6.7 percent so far in May, and while volatility is expected to continue, some analysts were forecasting a near-term rebound.
The large weekly decline in equities came amid uncertainty over a political crisis in Greece and whether that could trigger a default and possible exit from the euro zone.
Reuters contributed to this report.