Twitter raises IPO price range

News Broadband Global 4 NOV 2013
Twitter raises IPO price range
Twitter has raised the price range for its initial public offering of shares, following strong demand from investors. The company will now sell stock for USD 23-25 per share, up from an earlier indicated range of USD 17-20, according to an amended prospectus filed with the SEC. The offering remains 70 million shares, with an option for an additional 10.5 million shares, putting the potential proceeds at a maximum USD 2.01 billion. The sale will see around 13.5 percent of Twitter's shares listed on the stock market. The shares will be allocated on 06 November, and trading is expected to start on 07 November on the New York Stock Exchange.

Categories:

Internet,  Mobile

Companies:

Twitter

Regions:

Global

Tags:

Messaging, Financial funding

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