Twitter sets price range, to raise up to USD 1.4 bln in IPO

News Broadband Global 25 OCT 2013
Twitter sets price range, to raise up to USD 1.4 bln in IPO
Twitter has released an indicative price range for its IPO, setting the potential proceeds at up to USD 1.40 billion. The company will sell 70 million shares for USD 17-20 per share, according to an amended prospectus filed with the SEC. It says the IPO will start as soon as possible after the filing takes effect. The underwriters will have an option to sell another 10.5 million shares if demand is strong. 

The sale will see around 13.5 percent of Twitter's shares listed on the stock market. Its management owns another quarter of shares, and other large shareholders include JP Morgan, Rizvi Traverse, Spark Capital and DST. 

Categories:

Internet,  Mobile

Companies:

Twitter

Regions:

Global

Tags:

Messaging, Finance

Related Articles

GLOBAL 6 FEB 2014

Twitter forecasts revenues to double again in 2014

Twitter reported a more than doubling in fourth-quarter revenues and said it expects the growth rate to continue in 2014. Quarterly revenue rose to USD 243 million from USD 112 million a year ago, and Twitter forecast annual sales of USD 1.15-1.20 billion in 2014, versus USD 665 million last year. The bulk of revenue in Q4, USD 220 million, came from advertising, and 75 percent of that was mobile ads. The company posted adjusted EBITDA of USD 45 million for Q4, up from USD 18 million a year ago, but the net

GLOBAL 7 NOV 2013

Twitter raises USD 1.82 billion in IPO

Twitter has priced its initial public offering of shares at USD 26 per share, higher than the already increased range of USD 23-25 per share. With the offering of 70 million shares, this will give the company gross proceeds of USD 1.820 billion. The underwriters have an option to sell another 10.5 million shares in the next 30 days. The shares will start trading on the New York Stock Exchange 07 November.

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

GLOBAL 23 OCT 2013

Twitter secures USD 1 bln credit line

Twitter has again updated its IPO filing with the SEC, this time to announce a new USD 1 billion credit facility. The revolving credit agreement with a group of lenders runs until October 2018. The interest is based on a 0.5-1.0 percent increase on the base prime rate or Libor. As of 22 October, the company had not drawn on the facility.

GLOBAL 16 OCT 2013

Twitter revenues, user base grow in Q3, losses widen

Twitter reported further growth in its user base in the third quarter, reaching an average 231.7 million monthly users compared to 218.3 million in the second quarter. In an amended SEC filing for its IPO, the company said it generated revenues of USD 168.2 million in the three months to September, up from 82.3 million a year ago thanks to the growth in the user base and the expansion of its advertising products such as promoted tweets. The company's net loss swelled to USD 64.9 million in the quarter from

GLOBAL 4 OCT 2013

Twitter files to raise USD 1 bln in IPO

Twitter as filed its general prospectus for an initial public offering of shares in the US. While the company has yet to fix how many shares it will sell or a price for the new stock, the document provides details on the messaging company's financial results for the first time. Twitter recorded revenue of USD 254 million in the first six months of this year, up from USD 122.4 million a year earlier, while its net loss swelled to USD 69 million from USD 49 million. Twitter reported an average 218.3 million m

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.