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

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.

TOPICS: Networking

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.

Topic: Networking

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  • Twitter IPO

    You can buy the Twitter Turd IPO at $17-$20 if you like. I'll wait until the turd hits the bottom of the tank and then possibly buy. Their financial sheets are horrible!
    • Not necessarily....

      Twitter's market cap is starting at just over $11B......which is really not that much when compared to Facebook's IPO (= $100B). I guess it reflects the difficulty monetizing the data when it moves that fast.

      I considered the FB IPO a joke, but bought a small stake at $19......which sold at $50.

      I'd buy the Twitter at the IPO and hold long. I just think their position in the social market has more permanence. It's a social network driven by early adopters, rather than subject to their whims.
  • Zero profits yet is valuated at $9B

    The company has made NOTHING in profit (ie: spent 100% of the revenue). Yet, somehow is valuated at $9B.

    This stock is just as dumb as Facebook. Any company that completely relies on being a fad to make money (and they are not) is NEVER a good investment.
    • Information is not a fad

      I barely use it, and don't ever expect to make it a major part of my life, but you can't deny its presence.

      It's a viable medium at this point. I don't think the Twitter people should fear that the 'fad' of immediate information should go away, so much as fearing that they don't evolve with the medium.