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Accel

Facebook gears up for multi-billion dollar pay-day

Facebook’s stock is being restructured into a two-tier system of Class A and Class B shares.

The social networking site’s current owners are set to convert their stock into Class B shares, which have 10 times the voting power - allowing them to maintain control even if public float leaves them with a minority holding.

The restructure - first reported by The Wall Street Journal - is widely seen as the precursor to an IPO.