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Twitter has
unveiled the price range for its shares when the company lists on the stock
exchange.
In a filing on
Thursday, Twitter said it planned to sell 70 million shares priced between $17
and $20 (£10 - £12) to raise up to $1.4bn (£865m).
The offering represents
13% of Twitter and values it at as much as $11bn.
Analysts said the
valuation, which was less than forecast, indicated the firm wanted to avoid the
dip in prices that followed Facebook's listing.
"They're
trying to price this for a very strong IPO, ideally creating the conditions for
a solid after-market," said Brian Wieser of the Pivotal Research Group.
Facebook's shares
were priced initially at $38 per share. The stock soared within hours of its
debut to a high of $45 but later slumped.
Some analysts had
blamed over pricing of the shares as a reason behind the fall. However,
Facebook shares have since recouped most of their losses and are now trading
above the listing price.
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