Twitter IPO prices at $26 a share

That's up from the original expected range of $23 to $25, and values the company at $18.3 billion.

By MSN Money Partner Nov 6, 2013 7:59PM

Credit: © Kacper Pempel/Reuters
Caption: People holding mobile phones are silhouetted against a backdrop on which the Twitter logo is projectedBy Cadie Thompson, CNBC.com


Twitter (TWTR) priced its stock at $26 per share for its initial public offering, the company said on Wednesday in a tweet.


Earlier, underwriters involved with the Twitter IPO aimed to price the social network's stock at $27, barring any last-minute hitches, according to three people familiar with the matter.


The original expected range was $23 to $25 per share. With 70 million shares to be issued, the company will raise nearly $2 billion, valuing the company at $18.3 billion, fully diluted. 


The social media company said in its statement that it has also granted underwriters a 30-day option to purchase up to 10.5 million additional shares of common stock.  


Goldman Sachs (GS) is serving as the lead underwriter for the Twitter IPO, alongside Morgan Stanley (MS) and JPMorgan Chase (JPM). 


The stock is set to begin trading on Thursday and will trade under the stock symbol "TWTR" on the New York Stock Exchange.


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7Comments
Nov 7, 2013 9:35AM
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I've lived throught his stuff before.  The late 90's was very similar and the gray tops know how that ended.  We live in a denial based market in my opnion.  Do folks not realize Twitter is already facing a $125 million lawsuit for colluding to boost intital offering prices.  Gees folks get a clue.  THEY WANT YOUR MONEY! Period.
Nov 6, 2013 9:44PM
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I'm starting to think this is but pure greed from the top on down...And am to the point of not wishing them well...
Nov 6, 2013 8:25PM
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So we have the dot suck 1.0 bubble brewing?  How much is a click really worth? Nothing, zero!
Nov 7, 2013 10:05AM
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NTU....I was aware of a $125 million dollar Lawsuit, but not anything to do with a fine...?

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