Twitter has set a price range of $US17 to $20 per share for its much-anticipated initial public offering and says it could raise as much as $1.6 billion.
Twitter Inc. said in a regulatory filing that it is putting forth 70 million shares in the offering. If those are sold,the underwriters can buy another 10.5 million shares.
At the $20 share price, Twitter's market value is around $12.5 billion. That's a relatively conservative number - some analysts had expected that figure to be as high as $20 billion. The caution shows that Twitter learned from Facebook's rocky initial public offering last year.
Not surprisingly, Twitter's IPO will be much smaller than Facebook's, which was marred by technical glitches on the Nasdaq stock exchange. Those problems likely led Twitter to the New York Stock Exchange.
The San Francisco-based short-messaging service plans to list its stock under the ticker symbol "TWTR" on the New York Stock Exchange.
