T. Rowe Price mutual funds buy into Facebook
The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010.
Credit: Reuters/Robert Galbraith
BOSTON | Fri Apr 15, 2011 11:53am EDT
(Reuters) - A number of T. Rowe Price Group mutual funds reported owning stakes in Facebook Inc, valuing the fast-growing social media company at $25 per share.
The Baltimore mutual fund company reported the stakes in disclosure documents for the funds' holdings as of March 31, posted Friday on T. Rowe Price's website. Funds holding Facebook included T. Rowe's Science & Technology Fund and Global Technology Fund.
Each reported investing less than 1 percent of its assets in Facebook. T. Rowe Price funds have previously been buyers of shares in other private technology firms, giving ordinary investors a rare opportunity to own stakes in those companies.
In Friday's filings T. Rowe funds also reported holding stakes in gaming company Zynga and Twitter, the microblogging site.
(Reporting by Ross Kerber; Editing by Gerald E. McCormick and Steve Orlofsky
Credit: Reuters (www.reuters.com)
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