Twitter has said that it will offer 70 million shares at a price of US$17 (€12.30) to US$20 each when it floats on the stock market, in a move will net the firm up to US$1.4 billion.
Announcing the plans in an update to its filing with the Securities and Exchange Commission, Twitter said the price was based on valuation information for comparable companies and equity market analysis prepared by underwriters.
The offering values the company at up to US$11 billion – less than many analysts had predicted, with some expecting the value to be closer to US$15 billion, according to a Reuters report.
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