Twitter sets IPO price range of $17-$20, offering 70M shares

|By:, SA News Editor

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.