Twitter seeks $11 billion in IPO

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Twitter seeks $11 billion in IPO

#1 Postby Shivani » Fri Oct 25, 2013 1:32 pm

On thursday, Twitter announced an expected share price of between $17 and $20 for its eagerly awaited initial public offering, which will see the microblogging company valued as high as $11.1 billion.The company said that it is expected to raise $1.6 billion from the share offering, up from a previous $1 billion.Twitter will offer 70 million shares for between $17 and if the initial launch goes well they will do an over-allotment of a further 10.5 million at a plus price of shares $20 each.

Twitter’s offering is the most high-profile Internet IPO since Facebook Inc’s rocky debut in May 2012, in which the company’s shares fell below their offering price in the ensuing days. Twitter is expected to begin its pre-IPO road show next week as it gears up for an offering expected in November.

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