Facebook IPO pricing at $38 per share

FORTUNE — The Wall Street Journal is reporting that Facebook (FB) “is close to pricing” its IPO at $38 per share, which is the top of its already-increased $35-$38 offering range. That would mean the company raised $16 billion, or $18.4 billion if the underwriters’ over-allotment was exercised (which everyone assumes it will be).

[UPDATE: Facebook makes it official]

At $18.4 billion, Facebook would be the second-largest IPO in history — just behind Visa’s $19.65 billion offering in March 2008 and just ahead of General Motors raising $18.145 billion in November 2010.

The $38 per share value, including the over-allotment, would give Facebook an initial market cap of nearly $84 billion. Fully-diluted, the figure surpasses $100 billion.

A Facebook spokeswoman declined to comment.

More to come shortly. In the meantime, some related links:

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