Social networking service Twitter sets terms for highly anticipated $1.3 billion IPO

Comment

Shutterstock photo

Twitter, an online social networking and microblogging service, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $1.3 billion by offering 70.0 million shares at a price range of $17 to $20. At the midpoint of the proposed range, Twitter would command a fully diluted market value of $12.8 billion.  

Twitter, which was founded in 2006 and booked $534 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol TWTR . Twitter initially filed confidentially on July 12, 2013. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal.

At its announced price range, Twitter will qualify for inclusion in the  Renaissance IPO ETF (symbol: IPO)  on a fast-entry basis, five days after the commencement of trading, pursuant to the rules of the Renaissance IPO Index.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: News Headlines , IPOs


More from Renaissance Capital

Subscribe






Renaissance Capital
Contributor:

Renaissance Capital

IPOs
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com