Skip to main content

Twitter prices above range to raise at least $1.8 billion

posted onNovember 7, 2013
by l33tdawg

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.

Source

Tags

Twitter Industry News

You May Also Like

Recent News

Tuesday, November 19th

Friday, November 8th

Friday, November 1st

Tuesday, July 9th

Wednesday, July 3rd

Friday, June 28th

Thursday, June 27th

Thursday, June 13th

Wednesday, June 12th

Tuesday, June 11th