Business

Twitter sets $17 to $20 per share range for IPO

NEW YORK — Twitter disclosed Thursday that it plans to price its eagerly awaited initial public offering at $17 to $20 a share, as it readies a road show for investors.

The company aims to sell 70 million shares. At the midpoint of the price range, the social network would raise nearly $1.3 billion. The offering would value Twitter on a fully diluted basis at more than $12 billion.

Advertisement

That would make Twitter four times as big as AOL, but only a fraction of the size of Facebook, which has a market value of over $127 billion.

Company executives and their advisers will crisscross the country, presenting their case in a series of meetings starting Monday in Washington and Baltimore. A video presentation will be posted online shortly.

Get Business Headlines in your inbox:
The Globe's latest business headlines delivered every morning, Monday through Friday.
Thank you for signing up! Sign up for more newsletters here

Twitter has also moved up the pricing of its offering by more than a week, to Nov. 6. That means the social network would then begin trading on the New York Stock Exchange, under the ticker symbol TWTR, the next day.

The IPO is expected to raise $1 billion to $1.5 billion. It will not be the biggest in terms of size — Plains GP Holdings, an energy company, raised $2.8 billion last week — but the Twitter deal is one of the most hotly anticipated offerings since Facebook‘s market debut last year.

New York Times

Loading comments...
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.