Twitter IPO set for Thursday; opening price set at $26
NEW YORK | Twitter has set a price of $26 per share for its initial public offering, which means the company’s stock can begin trading Thursday on the New York Stock Exchange in the most highly anticipated IPO since Facebook’s 2012 debut.
The price values Twitter at more than $18 billion based on its outstanding stock, options and restricted stock that will be available after the IPO. That is more than Macy’s, which has a market capitalization of $17 billion, and Bed Bath & Beyond, which is around $16 billion.
The pricing means the short messaging service will raise $1.8 billion in the offering, before expenses. The company is offering 70 million shares in the IPO, plus an option to buy another 10.5 million. If all shares are sold, the IPO will raise $2.09 billion, making it the biggest IPO for an Internet company since Facebook raised $16 billion last year.
The company, named after the sound of a chirping bird, is set to begin trading Thursday morning under the ticker symbol “TWTR.”