T. Rowe Price funds report stakes in Facebook

By @ibtimes on

A number of T. Rowe Price Group Inc mutual funds reported owning stakes in Facebook Inc, valuing the fast-growing social media firm at $25 per share.

The Baltimore mutual fund firm 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.

Both reported holding less than 1 percent of their 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.

(Reporting by Ross Kerber, editing by Gerald E. McCormick)

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