Twitter has now set $26 per share price for their initial public offering (IPO), which is a dollar higher than the earlier expected range of $23 to $25. The range was already higher than the earlier $17 to $20 per share price. Twitter will put up 70 million shares at $26 per share for the IPO, when the US markets open later tonight, valuing the company at $18 billion. The company has an option to sell an additional 10.5 million shares. Twitter will be able to raise $2.09 billion if it sells all shares, which will overshadow Google’s IPO in 2004. Also Read - Twitter “Blue Tick” verification stops again, company to improve review process
With the $26 per share IPO price, Twitter is hoping to raise up to $1.8 billion and the company is now valued at more than $18 billion for its stock, options and restricted stock. Twitter will start trading on New York Stock Exchange from today under the ticker symbol TWTR. This is the most high profile IPO after Facebook’s debut on Nasdaq last year.