More banks join Facebook’s IPO

Facebook added 25 banks to help underwrite the company’s initial public offering (IPO), meaning most of Wall Street will have a role in the share sale, according to an amended IPO filing last night. The new banks, including Citigroup, Credit Suisse and Deutsche Bank, increase the number of underwriters on the deal to 31, the filing said. Facebook also said that it had secured two new credit facilities, one of which will help the company satisfy hefty tax withholding obligations and remittances related to employees' stock units following its initial public offering.