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Monday, Nov 4
Twitter IPO much in demand
- Twitter (TWTR) has reportedly attracted more than enough interest for its upcoming IPO to be oversubscribed
- The demand comes even though Twitter's management, in the company's roadshow, have apparently refrained from outlining how it plans to break even.
- Twitter intends to sell 70M shares at a price range of $17-20 each, although it could end up selling the stock for more than that and/or increase the number of shares it will offer.
- The company is due to price the shares on Wednesday and start trading on Thursday.
- Twitter intends to use the cash to go on a spending spree.