Facebook (News - Alert) will pay 1.1 percent to underwriters for its IPO – much lower than usual, according to news reports.

Reuters reported the typical range is between 3 percent and 7 percent on Wall Street. By comparison, Zynga (News - Alert), which raised $1 billion in a December IPO, raised 3 percent for bankers in fees, Reuters added.

Reuters noted that public offerings which raise less than $500 million often lead to underwriting fees of 7 percent. But the percentage of fees tends to go lower as the amount of the IPO gets higher, according to news reports.

With Facebook, the public offering is the largest ever for Silicon Valley, Reuters (News - Alert) reported, and there is potential to become bankers for Facebook.

The Wall Street Journal estimated that if Facebook raises $10 billion from the offering, there would be $110 million for IPO fees divided among the underwriters. Citing one source, Morgan Stanley, J.P. Morgan and Goldman Sachs, may get half of the fees.  Morgan Stanley will get between 25 percent and 30 percent, The Journal said.

Along with Morgan Stanley, J.P. Morgan and Goldman Sachs, underwriters for the Facebook IPO include Bank of America, Barclays and Allen & Co. There are also 25 more banks which will be underwriters.

On Monday, analysts and investment bankers from these firms were at a meeting with several Facebook executives.

"It was a good first step for establishing a relationship," one person at the meeting told Reuters.

But Bloomberg News said that Facebook CEO Mark Zuckerberg (News - Alert) did not attend the meeting – which gave the message that he may not be that accessible before the IPO.

Overall, Facebook has some 845 million users. It is expected to raise $5 billion in the IPO that could value the company at between $75 billion and $100 billion, Reuters adds.

In other news related to the Facebook IPO, Firsthand Technology Value Fund has bought 330,000 more shares of Facebook – ahead of the company’s highly anticipated IPO. The fund recently completed the purchase of the Facebook shares, according to TMCnet. It now owns 530,000 shares of Facebook.