DHAKA: Twitter has raised the price range for its initial public offering of shares, following strong demand from investors.
The company will now sell stock for USD 23-25 per share, up from an earlier indicated range of USD 17-20, according to an amended prospectus filed with the SEC.
The offering remains 70 million shares, with an option for an additional 10.5 million shares, putting the potential proceeds at a maximum USD 2.01 billion.
The sale will see around 13.5 percent of Twitter’s shares listed on the stock market.
The shares will be allocated on November 6, and trading is expected to start on November 7 on the New York Stock Exchange, reports telecompaper.com.
BDST: 1953 HRS, NOV 05, 2013