Facebook will finalize the price for its share on Thursday in one of its final steps before going public less than 24 hours later.
The Menlo Park-based social-networking company is largely expected to go public Friday with shares of the company priced somewhere between the $34 to $38 range.
The Wall Street Journal reports that Facebook will likely set the price at $38 a share. But talks are fluid.
Earlier it was expected that Facebook's IPO price would be set lower, somewhere between $28 to $35, but the buzz around the company and reports that the IPO is already oversubscribed has pushed the projected price up.
Facebook also issued more shares Wednesday to keep up with the anticipated demand.
The company's valuation is expected to be between $93 billion to $104 billion under the new range.