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Thursday, Oct 24
Twitter sets IPO price range of $17-$20, offering 70M shares
- Twitter (TWTR) has set an IPO price range of $17-$20; that's below the prices reportedly offered for private trades. The price range translates into a valuation range of $9.3B-$10.9B. (S-1)
- Twitter is looking to raise $1.19B-$1.4B by offering 70M shares. Underwriters have a 10.5M-share overallotment option.
- It looks as if the company is trying to avoid a repeat of Facebook's IPO by pricing conservatively.