Twitter IPO: Priced at $17-20 per share; 70 million shares offered

Summary:The microblogging giant, set for an initial public offering in the coming months, expects to see its shares priced in the low-end double-digits.

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Twitter expects to see its initial public offering share price of between $17 and $20 per share.

The company is also offering 70 million shares when it first hits the New York Stock Exchange, according to the amended S-1 filing with the U.S. Securities and Exchange Commission (SEC) on Thursday.

The microblogging giant, which will run under the ticker symbol "TWTR" when it becomes a publicly traded company, is set to go public in the coming months.

Should Twitter hit the $20 per share mark, it could raise as much as $1.6 billion. 

Twitter released the paperwork on its filing with the SEC on October 3, in which the seven-year-old social networking firm revealed annual revenues of $316.9 million, an increase of nearly 200 percent between 2011 and 2012. In that filing, the company said it had more than 218 million users on average per month, and 100 million daily active users.

Earlier this month, it was reported that traders would be given an opportunity to test their systems as part of a "dry run" ahead of the company's public offering.

Thursday's news lands at the same time NBC News executive Vivian Schiller formally accepted a new role as Twitter's Head of News, reports AllThingsD.

In its original S-1 filing, Twitter touted its news-generating capability with more than 500 million tweets are published per day. It noted how it capitalized on major media moments — from U.S. president Barack Obama claiming reelection victory, as well as its "enabling" role the "Arab Spring" that swept across the Middle East and northern Africa in 2010.

Topics: Networking

About

Zack Whittaker writes for ZDNet, CNET, and CBS News. He is based in New York City.

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