Twitter finally announces its initial public offering at $26 per share for total valuation of $18.1 billion which is much pricier than rival Facebook now. It is also expecting to raise more $1.8 billion by selling additional shares in next 30 days.
Twitter has announced on Wednesday that the company sold 70 million common stock shares at $26 each. The micro-blogging site also said that its shares will go on New York Stock Exchange today under the symbol TWTR. Twitter is also giving one month option to underwriters to buy additional 10.5 million common stock shares.
Social giant is expecting to raise another $1.8 billion by the sale of these shares. Twitter's IPO price is 11.6 times higher than Facebook currently.
Twitter IPO price estimates are gradually raised. The company priced its expected IPO at $17-20 first. this amount was raised to $23-25 by the end of last month. Today the company sets IPO at $26 per share. It is also suggested by some recent estimations that Twitter's IPO price could reach upto $28. Let's see what will come in future.