Zuckerberg sells as Facebook offers new shares

Facebook chief Mark Zuckerberg will sell a chunk of his stake in the company, cashing in some $2.3 billion, as part of a new share offering by the huge social network.

A Facebook filing Thursday said the company would sell 70 million shares in a follow-on offering to the huge initial public offering in May 2012.

Of the total amount, Zuckerberg will sell around 41 million shares, mainly to satisfy his tax obligations, the company said in a statement.