Twitter prices above range to raise at least $1.8 billion
Twitter Inc priced its initial public offering above its expected range to raise at least $1.8 billion, in a sign of strong investor demand for the most highly anticipated U.S. public float since Facebook Inc.
The microblogging network priced 70 million shares at $26, above the expected range of $23 to $25, which had already been raised once before.
The IPO values Twitter at $14.1 billion, with the potential to reach $14.4 billion if underwriters exercise an over-allotment option, as they are widely expected to. If the full overallotment is exercised, Twitter could raise $2.1 billion, making it the second largest Internet offering in the U.S. behind Facebook's $16 billion IPO last year and ahead of Google Inc's 2004 IPO, according to Thomson Reuters data.
