Facebook is just weeks away from running ads on mobile devices for the first time, according to reports.

The social network has been expanding its mobile presence gradually over the past year, but is yet to exploit significant revenue from its mobile offering, a fact it revealed in its IPO filing last week.

The Financial Times has reported that the mobile ads could be rolled out within the coming weeks, following a series of “discussed proposals” between the social network and ad agencies over the potential for displaying its Sponsored Stories ad format in the news feed on mobile devices.

 Facebook rolled out ads in the news feed earlier this year, calling them Featured rather than Sponsored Stories. The ads that appear in a user’s news feed work in the same way as Facebook’s Sponsored Stories ad format, by showing a user’s social interactions with brands within the ad creative.

Last week, Facebook announced plans to float on the stock market, filing papers seeking to raise $5bn (£3bn) in an initial public offering . The move could value it at up to $100bn (£64bn) – the biggest technology IPO since Google’s in 2004.