Twitter said Thursday that it has set the pricing for its initial public offering in the $17 to $20 range, which would value the company at as much as $11.1 billion.
The company also said that it could raise as much as $1.6 billion in cash with the offering. It plans on initially offering 70 million shares during the IPO, which is expected some time next month, and could raise that number as high as 80.5 million. That would value the company at up to $11.1 billion.
- Twitter paid $36 million for IBM patents to avoid a lawsuit
- Twitter prohibits posting of sexually explicit videos on Vine
- Stealthy startup Clinkle nabs another big name: Twitter's ex chief designer
- DeGeneres' Oscar tweet leads to $3M Samsung donation
- Twitter error blamed for mass user password reset
The company said in an amended S-1 (PDF) that, "It is currently estimated that the initial public offering price per share will be between $17.00 and $20.00. Our common stock has been approved for listing on the New York Stock Exchange under the symbol 'TWTR.'"
The Wall Street Journal reported earlier today that Twitter was likely to take this action within the next couple of days.