Twitter Inc priced its initial public offering above its expected range to raise at least $1.8 billion, in a sign of strong investor demand for the most highly anticipated U.S. public float since Facebook Inc. The microblogging network priced 70 million shares at $26, above the targeted range of $23 to $25, which had been raised once before. The IPO values Twitter at $14.1 billion, with the potential to reach $14.4 billion if underwriters exercise an over-allotment option, as they are widely expected to. If the full overallotment is exercised, Twitter could raise $2.1 billion, making it the second largest Internet offering in the U.S. behind Facebooks $16 billion IPO last year and ahead of Google Incs 2004 IPO, according to Thomson Reuters data. The focus now turns to how Twitter stock will fare on Thursday.
Twitter prices above range to raise at least $1.8 billion
07
Nov
2013
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